A Surviving Spouse Checklist
Benjamin Franklin once said, “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” Fast forward a couple of centuries. Our Constitution still serves as our governing document while death and taxes remain constant.
Year after year, our advisors at Veater Financial Group prepare our clients for that dreaded time of year; tax season. We see it coming, we know the deductions, exemptions, and the deadlines. It's all there. We know it! But what about that other thing? That sensitive subject that nobody wants to address - death.
Nobody will live forever. Dying is a part of living and we’re here to help you prepare your family financially for when this time comes. We’ve compiled a guide known as the “Surviving Spouse Checklist” to help you plan for and navigate this trying time when it may occur. Its full of tips and recommendations to make the financial transition easier for you, and your family. Here are just a few examples taken from our checklist:
- Upon the passing of your spouse you may need up to 25 copies of death certificates. These will be needed for execution of the will, changes of deeds and ownership of common property, formal notification of employers, banks and credit card companies.
- Marriage license.
- Birth certificates- yours, your spouse’s, and your children’s.
- Last will and testament.
- Mortgage documents.
- Trust documents.
- Insurance policies.
- Bank statements.
- Investment and retirement account statements.
- Military discharge papers.
These listed above are only the tip of the iceberg. Did you know that banks oftentimes seal your safe deposit box after your death? This could potentially prevent your family- even someone with power of attorney- from accessing important items, including key items (such as wills, insurance policies, etc.) and valuables.
We would like to help you prepare and make difficult situations easier for you and your loved ones by planning ahead. Please feel free to contact us so we can get you acquainted with our “Surviving Spouse Checklist” or we can review it with you during your next meeting.