As a surviving spouse, you might find yourself overwhelmed by all
the administrative and financial to-do items that you have to handle
soon after the death of your spouse. There's a lot to do, much of which
you've never done before. And you're supposed to get it all done while
grieving.
This book, by Mike Piper, CPA, walks you through it, in plain language.
Many surviving spouses find
themselves overwhelmed by all the administrative and financial to-do
items that have to be handled in the months after their spouse’s death.
There’s a lot to do, and they’re supposed to get it all done while
grieving. And in many cases, the situation is made more difficult by the
fact that the surviving spouse is not the one who regularly handled the
household finances.
I wrote this book to walk
people through it, in plain language. It’s the book I want my spouse to
have, in case something happens to me.
Fortunately, some of these to-do items for surviving spouses are important but not urgent. And in fact, for some of these items, it’s best
to wait. Many people report experiencing “brain fog” in the weeks or
months following their spouse’s death. They find that they have
difficulty concentrating and difficulty performing tasks that would
normally be easy. Major, irrevocable decisions are best put off until
this period is over, in cases in which it’s practical to do so.
That’s why the book is broken down into two parts: immediate next steps and intermediate next steps.
The book’s table of contents is as follows:
Part One: Immediate Next Steps
1. Learn the Terms (The Estate Administration Process)
2. Getting Organized
3. Notifying Necessary Parties
4. Initial Responsibilities as Personal Representative
5. Updating Your Own Estate Plan
Part Two: Intermediate Next Steps
6. Social Security Planning
7. Further Responsibilities as Personal Representative
8. Handling Inherited Retirement Accounts
9. Additional Options as a Beneficiary and Surviving Spouse
10. Tax Returns
11. Reassessing Your Own Finances
12. Reassess Your Portfolio
13. Finding Professional Assistance
Conclusion: What’s Next?
Appendix A: Does an Inheritance Create Taxable Income?
Appendix B: Social Security Widow(er) Benefit Math Details
Appendix C: Dealing with Trusts
