After the Death of Your Spouse: Next Financial Steps for Surviving Spouses

 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