Surviving a Loss: Financial Planning for Widows and Widowers

    by Mark Colgan

    Surviving A Loss: Financial Planning For Widows And Widowers Splash image

      This article is excerpted from an article that originally appeared in the Journal of Financial Planning. Reprinted with permission by the Financial Planning Association, Journal of Financial Planning, May 2004, by Mark Colgan, “Financial Planning for Widows and Widowers.”
    When an individual loses a spouse, their life dramatically changes forever. There is no handbook, process, or friend that can begin to understand what the surviving spouse is going through. But it is also a time when individuals should seek help if it is needed.

    One area in which help may be needed is in understanding the financial transition process. During this time, a widow or widower will be overwhelmed, distracted, uninterested, and shortsighted in dealing with financial affairs. Unfortunately, the surviving spouse will also be faced with a mountain of financial details that arise quickly after the death of their loved one.

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