The days following the death of a loved one can be anything but easy. Grief and shock often takes control as you try to process the loss. But during these times of grief, there are critical steps to take to protect your loved one’s estate.
It’s hard enough that you had to deal with your husband’s death, making funeral arrangements and greeting relatives during your time of grief. You’re a widow now, and as overwhelming as it may seem, you must carry on with your life. That will include getting your finances in order and updating your estate plan.
Complications, complications. That’s what happens when you die without a will, and there are a number of scenarios. Families bicker over what property and assets they want. A surviving – but unmarried partner – finds that he or she cannot inherit the property of a deceased partner. And the family of an affluent, long-living uncle had to spend years as well as thousands of dollars in legal fees to settle an estate.
Many women tend to neglect the estate-planning process. This is a shame, because estate planning is an important step in protecting your wealth and ensuring your loved ones’ wellbeing.
The problem with planning for the future is that we tend to do it in our heads, instead of getting it down on paper.
For many parents, a child’s high school graduation is a mixed blessing. One is able to see one’s child take the first steps into adulthood – and the first irrevocable steps away from the family home. The instincts to protect (and, maybe, to coddle) remain strong, even as one knows it’s best to allow children to assert their independence.