You are in no position to make any big decisions. You are mourning the loss of a beloved spouse and your heart is heavy. You are very likely at the beginning of the estate process following their passing. Words come more slowly, and you wonder where do I begin?
You made it through the funeral or memorial services and are hopefully already contacting the banks and utilities, along with the many other institutions your spouse did business with in their life. Each contact made reminds you of them in some way. If the estate is being probated, it can’t happen soon enough. But soon enough, that too will be over.
Hopefully you are free of having to make any huge decisions for the time being. If you are choosing to remain in your existing home, it may be a source of comfort to you. Everyone wants to offer their help and advice. The great majority of friends and family truly have your better interests at heart. Trusted advisors also have your interests in mind and are less emotionally vested and can provide a clear unbiased picture of your new situation.
Many health professionals advise against making important decisions in the period following the death of a spouse. One decision that flies in the face of that logic is basic estate planning. Your existing plan will often reflect what you desired when your spouse was alive. This is not your current reality. You may decide not to make any irreversible choices. You retain that right. Your estate planner can help update your plan to your current needs. If you think your wishes may change, you can always come back in the future.
- How Will You Age in Place and Be Able to Die at Home? - August 16, 2020
- Beneficiary Designations and Other Non-Probate Transfers - August 15, 2020
- Leaving Assets Can Be Tricky – Part 3 - August 13, 2020