Feeling disoriented and lonely is normal, and it is usually not advisable to make major decisions during such a vulnerable time. However, there are certain things you should do right away to begin getting your financial house in order. That way, when you eventually feel up to it, you will be in good shape to begin making necessary arrangements for your future.

Things to Do Immediately

The days and weeks immediately following your loss may seem a blur.

Concentrating for long may be difficult and you may feel disconnected from the tasks you set out to perform. Be patient with yourself. And, until you feel more composed, focus on these 10 critical tasks:

1. Find the will. If your husband’s death was expected, perhaps you were able to discuss his final wishes in depth. However, often the death of a spouse is unexpected and stunning. Regardless, the first step is to find a will if there is one. This properly drawn document should make clear his wishes for transfers of property and custody of dependent children. Also, the will should name an executor to be responsible for ensuring the deceased’s wishes are carried out.

If your husband died intestate (without a will), your state’s laws will determine how his assets are distributed. If this is your situation, you would be well-advised to seek legal assistance.

2. Begin making arrangements for your husband’s funeral or memorial service.

If he did not specify his wishes in his will, you may want to ask a friend to join you to help make often difficult decisions of how best to honor him.

3. Call your insurance representative. If your husband owned life insurance, you should begin the process of claiming death benefits as soon as possible.

4. Contact advisors. You should notify your financial and legal advisors of your husband’s passing. They will help you make necessary decisions and legal changes.

5. Order death certificates. You will need proof of death for things such as life insurance. Order at least a dozen.

6. Contact all the financial institutions where you and your husband have accounts.

7. Clip your husband’s obituary notice: you may need it to claim certain benefits.

8. Contact your health insurer to verify the status of your coverage.

9. Contact the Social Security Administration and/or Veterans Administration to learn what benefits may be available to you.

10. If applicable, contact your child’s college financial aid office. More assistance may now be available to help pay for school.

The Probate Process

If you and your husband had a living trust in place, you will avoid the legal process called Probate and the transfer of your husband’s assets will remain private. If, however, you do have to go through the Probate process, it may take a while depending on the complexity of the estate. During the process, the court establishes the validity of your husband’s will, settles debts, and transfers legal ownership of assets. Probate is a matter of public record, and all assets brought into Probate are frozen until the court completes its procedures.

Life Insurance Proceeds

If your husband had life insurance in force at the time of his death, your family may receive a financial windfall from the policy’s death benefit proceeds. Of course, the intention for this money is to protect your family’s standard of living and help secure your financial future. The benefit may be substantial, and though it may seem an inexhaustible sum at first, if it is meant to stretch over many years, it is critical that you invest it carefully.

For young widows in the midst of raising dependent children, you may consider allocating a portion of the insurance proceeds toward college savings, such as a 529 Plan or Coverdell Education Savings Account.

Young widows especially must take time into consideration when deciding how to invest death benefit proceeds: the money needs to last you. Though earmarking a portion of the money toward the kids’ education is smart, be sure not to over-fund at the expense of your own future, including your retirement. Remember, the kids can always get loans to help pay for college, but no loans are available to pay for retirement.

For financially established widows who either do not have children or whose children are grown, your focus should be on your retirement. Are you on track to preserve your lifestyle in your later years? Perhaps you should consider a strategy to create a life-long income stream for yourself. There are a variety of insurance and annuity products available today that do just that. Additionally, you may want to learn more about long-term care insurance, which can help defraythe costs associated with around-theclock daily living assistance if you should ever need it.

For older widows, now may be a good time to consider establishing or revising your estate plan for familial and charitable bequests. If you plan to leave money to heirs, there are several family trust variations available to help ease the transfer of assets to beneficiaries, minimize estate taxes, and avoid probate proceedings. If you intend to leave assets to a charity or non-profit organization, there are options, such as charitable annuity trusts, which can work to the benefit both of the charity and donor. It is best to seek the advice of tax, insurance, and estate planning professionals to determine what arrangements may be best for your situation.

Be Cautious

Unfortunately, there are unscrupulous people who prey on widows during their most vulnerable time. Older widows are often the most common targets for phone scammers. Do not be disarmed by callers offering kind words of condolence and then asking you to divulge confidential information such as social security or bank account numbers. If you receive any unsolicited calls, either hang up or ask for their name and number. Then, verify their legitimacy with the institution they claim to represent before proceeding with them.

Do not assume all crooks are strangers. In the most shocking cases, friends and even family members may use bereavement for their own personal gain. Be careful who you confide in, and decline all requests to lend money until you have had time to think things through clearly. Further, there are criminals who lay in wait to rob families while they attend the funeral. It may be smart to ask a neighbor to watch your home.

Now and In the Future

Widowhood can begin as a sad and solitary journey. But time heals, and eventually you will have the fortitude to move forward. When revising your financial situation, consider your goals not just for the far off future, but for the short term as well.

You need to incorporate your costs of daily living as well as your long-term costs of retirement funding into your overall strategy.

A qualified financial professional can be an invaluable guide during this time of emotional and financial upheaval. Together, you can assess your unique situation and chart a course for all your tomorrows.