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Even though women have made
great strides in the marketplace, the majority of women who
are widowed experience a decrease in economic position. With
death, comes a flurry of activities and tasks that must be
handled right away.
In an AOL Widows' Support chat room, a young woman wondered,
"How do you deal with suddenly losing two-thirds of
your income? Not only did I lose all of Ian's pay, but also
MY income has gone down due to the health insurance being
taken out of my check. The pathetic, laughable life insurance
is gone, and I still have the stupid van to pay off."
Another widow in an online support group noted, "I
remember…when people with (the best) of intentions would
make the most asinine remarks…I remember having to get
on welfare right away and the only category they could put
me in was divorced or other. Seems like they hadn't met any
widowed mothers who needed help."
Younger widows may be childless or employed and not eligible
for Social Security benefits. Others in their forties and
fifties may see themselves as too old for the workforce or
lack appropriate training.
- Is there a will, do I know where it is?
- Where is our money? Financial Accounts at banks, savings
loans, brokerage houses, and safety deposit boxes.
- Do I have signature power on checking/savings accounts?
- Is there insurance?
- How do I file for death benefits?
- How do I file for social security benefits?
- Do I need an estate attorney? How can I find one?
- How do I find out about life insurance benefits?
- Do I qualify for veteran survivor benefits?
- Are there pension plan or retirement benefits I should
receive?
- Are there health insurance policy proceeds I am eligible
for?
- Who do I need to notify of my spouse's death?
- Credit card companies
- Auto, vehicle registration
- Real estate title transfers
- Stock and bond transfers
- What medical costs am I responsible for paying?
- Do I have enough money for a funeral?
- Will I be required to pay estate taxes?
- Do I know how much cash I need to live each month?
Instructions: Some times journaling helps us put into perspective
our lives and feelings. Many of the women that I have interviewed
have found this to be a successful coping strategy. Take some
time to write on the following topics or whatever occupies
your mind.
- What are my financial concerns?
- Who are my financial helpers?
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