If a spouse passes away and they were the one who handled the finances, the widow or widower may face significant financial challenges. However, with proper advice, they should be able to tackle such financial issues, according to the Green Bay Press Gazette in "Financial planning tips for navigating loss of a loved one."
The truth is that most financial decisions are not nearly as urgent or important as they seem at the time. Widows and widowers do not have to make any financial decisions until they are forced to do so, and they should not make those decisions prematurely. Surviving spouses should put off as much as they can until they have had a chance to properly mourn the loss of their spouse.
Financial decisions do not have to be made alone either. If an attorney is helping with the estate administration, the attorney can help make sure that all necessary estate financial matters are taken care of and suggest a financial professional to help with other things.
An experienced estate administration attorney can be an invaluable resource.
Reference: Green Bay Press Gazette (March 9, 2018) "Financial planning tips for navigating loss of a loved one."