This article is intended as a checklist - a list of the important financial considerations to address in the event of a tragedy. If you find yourself referring to this article now or you decide to keep it in a drawer or on your computer for some unforeseen time in the future, please ...
When a spouse dies, each of their assets transfers to theirbeneficiary, who is typically their surviving spouse. Unlike Social Security benefits, which have an automatic survivor benefit, retirement plans require account holders to choose their beneficiaries. These beneficiary designations take precedence...
Do I need to apply for a Grant of Probate or Certificate of Confirmation? What if my deceased spouse or civil partner held an ISA? Funeral invoice payment You can use money from the deceased's account to help with funeral costs If you send us the invoice on the funeral company’s headed...
What to Do When a Loved One Dies of an Infectious Disease The death of a loved one is almost always a traumatic experience, but when death was caused by an infectious disease, it can become even more upsetting. Any time you are talking about an illness that has the potential to spread ...
The death of a loved one is never easy. It can be overwhelming to try and understand how it will impact you financially while you are coping with the loss. Preparing ahead of time for what happens to your Social Security check when your spouse dies can help ease your stress during these...
Things are slightly different with a401(k). You will still complete a form that designates who receives your benefits when you pass away. If you’re married, though, the law says your spouse becomes the recipient. Even if you’ve beenlegally separatedfor years and now live with somebody els...
The first Thanksgiving after someone dies (and the second and the third and the next and the next …) is harder than you can imagine if you haven’t yet lost a loved one. Like so much of living with loss, the absence throbs. Traditions might serve as lifelines to keep mourners steady...
Part of our ongoing series:What To Do When Someone Dies Joint Account:In the event that you have a joint bank with the deceased, all control over the account goes to the remaining party, and you can continue to make payments, deposits, and changes the same way you did while the deceased...
It’s not an easy task. It is a job where state laws determine what paperwork and procedures are required and who has the authority to initiate the paperwork. It is not a job we are taught to perform in school, but a job most of us will do when our parents or our spouse die. ...
When a spouse dies, the surviving spouse is entitled to file for a survivor's benefit as early as age 60. The benefit will be reduced if they file prior to reaching their full retirement age. They are permitted to switch to their own benefit at any point they wish starting at age 62 ...