Family Finances - Handout 3 - What a Widow(er) Needs to Know

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2002 Volunteer Leader Training Guide
What a Spouse Needs to Know About Family Finances
What a Widow(er) Needs to Know – The First 365 Days Checklist
Handout 3

The following tasks need to be done within the first year after the loss of a spouse. Some tasks may be completed before or after the suggested time period. In some cases, it may not be necessary to undertake a task. It will depend upon the family situation.

Immediate

_____	Locate burial instructions. Make funeral or memorial arrangements.
_____	Prepare an obituary notice.
_____	Notify relatives, close friends, and business associates.
_____	Secure copies of death certificate.
_____	Open a checking account in your name.
_____	Notify spouse’s employer.

Within the First Four Weeks

_____	Prepare a short-term budget.
_____	Establish an estate checking account.
_____	Pay bills that need immediate attention.
_____	Seek competent legal services.
_____	File spouse’s will.
_____	Apply for benefits.
_____	Notify creditors.
_____	File insurance claims.
_____	Check retirement and pension plans.
_____	Check trade unions, professional organizations, fraternal organizations, etc., for benefits.

First Two to Three Months

_____	Pay medical and hospital bills.
_____	Begin probate proceedings.
_____	Change names on joint credit card or charge accounts.
_____	Apply for credit in your name.
_____	Review your insurance coverage.
_____	Transfer titles on securities.

Within Six Months

_____	Change beneficiaries (include insurance policies, retirement plans, and pension plans).
_____	Transfer titles to property.
_____	Prepare a new Will.
_____	Change name on utility bills, etc. (if necessary).

Six Months to Year

_____	File federal and state estate tax returns (if necessary).
_____	File federal and state income tax returns.
_____	Complete probate.
_____	Make major decisions.

Prepared by: Originally prepared by Dr. Betty Jeanne Sundling, Retired Extension Family Economics Specialist, January 1989. Revised by Dr. Judith R. Urich, CFP, Extension Family Resource Management Specialist, 2002.

Back to 2002 Volunteer Leader Training Guide

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2002 Volunteer Leader Training Guide What a Spouse Needs to Know About Family Finances What a Widow(er) Needs to Know – The First 365 Days Checklist Handout 3

2002 Volunteer Leader Training Guide
What a Spouse Needs to Know About Family Finances
What a Widow(er) Needs to Know – The First 365 Days Checklist
Handout 3