Financial Tips

[JES]

I have just wondered if anyone has financial tips or advice to a newly grieving spouse.  I was at a loss as to what I needed to do. Who can think straight at a time like this? I knew about small death benefit from social security but procrastinated.  When I did call them I found out I could get survivor benefits which were more than I was getting on my own social security. They do back pay from the time you call so I did lose out a month on back pay.  I had no clue at that time. As far as pensions, IRAs, etc. I figured it out eventually but wish someone had been there to guide me through it or at least tell me what to look for.   I know alot of people don't have wills,  financials advisers,  or just dont know what a spouses rights or entitlements are so any advice would be appreciated. Thankyou so much.

[Billie Rae]

I do know eventually you must remove your spouse from all titles because later on if you want to sell or borrow on anything it's harder later.also if you are added to any health insurance you are allowed to cobra yourself on that policy.And one more thing I Found is our credit union had a payoff on death on one of his personal loans.Hugs and peace in healing. Billie Rae

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[SSC]

I am fortunate that my daughter and son-in-law are financial advisors.  They totally took care of my roll-overs and such.  What a relief when I'm the poster child for "widows brain" right now... One thing the mortuary recommended which my family didn't think about was to contact the credit report agencies and send them a copy of the death certificate making sure no one opens any accounts in his name.  You know, identify theft.  Also, be wary of all contact of unknown mailings and phone calls.  I've heard fraudulent people seek out grieving individuals...Just be careful.

[Glolilly]

Funeral homes, Amazon books, AARP, your tax preparer, Senior websites or a local social worker, tax or cpa friend or community center can direct you. Do you know any recent or old widows? Google widow financial support information. Maybe free legal assistance. Be careful making major decisions the first year or two. 

[JES]

Thankyou for all your input, & any future input. Some very good ideas from all of you. Hopefully will help someone in the now, or future. I have muddled through it myself but still fear I missed something along the way.    Unfortunately for myself, I was the only recent and "old" widow that I knew at the time.   No offense to Glolilly, its what we are called. (After all they named a deadly spider after us)  You would think in our politically correct world that Webster's would come up for a nicer name for widows and widowers.  I'm sorry for the little rant, but I absolutely despise being a widow nowadays.....   Blessings and prayers to help us all get through this longggg...and sad journey.  Jeanne

[KayC]

The hospital hounded me about George's bills, they were going to charge usury interest I couldn't afford, so I remortgaged my house to pay off the hospital/doctor/ambulance bills.  I found out years later that in my state I wouldn't have been responsible for his bills.  I didn't have any money when he died but I would have been way ahead if I'd gone to a financial advisor that knew the laws in my state.

We were both on the titles to our vehicles so I just had to take a death certificate to the DMV and get the title changed, also had to take one to our insurance company to get a better rating (he was in high risk because of his accidents).  Had to take one to the bank too.

[JES]

KayC.   I did know about not having to pay Kevins hospital bills but as excecuter of his will I felt I promised to pay any bills he owed.  My conscience would not let me not pay them.  Insurance covered a large portion so I am mainly paying the deductibles and yes, they do hound you. I made arrangements and have a 1yr. HELP loan with no interest.  As far as separate ambulance, airflight bills, they have been wonderful with me paying the deductible as Im able. As long as I pay alittle each month they are happy....no interest also.  Its overwhelming to be hit with all those bills when we've just lost our loved one.  For those that struggle financially from day to day, I see no problem with using their states laws to release them from the hospital bills.  I have been blessed to have alittle extra to help me through and I am thankful for that. Thankyou for your imput that could help so many others in this situation or those in the situation that you had.  Im so sad you had to remorgage your home, that should never have to happen.  Bless you for all that you do to help myself and others. Jeanne

[KayC]

One thing I want to mention for those who don't know is claiming your spouse on your taxes their last year even though not alive Dec. 31st, check with your tax consultant or IRS but every bit helps!