Managing Finances After the Loss of a Spouse

At StackStoneWealth, we walk alongside individuals and families through the stages of life. When clients come to us after losing a partner, they’re often asking: Where do I start? What happens to our accounts? Can I afford to stay in our home?

This guide is here to help you or someone you love to take the first steps with clarity and confidence.

Gather and organize documents
Start by locating important paperwork, both digital and printed, including:

• Death certificates: You will need multiple certified copies for banks, insurance companies, Social Security, and more.
• Marriage certificate and social security information: These identification documents may be required to claim benefits or update legal documents.
• Financial documents: Include checking, savings, retirement, brokerage, and joint accounts.
• Title documents: Locate title documents like house and property deeds, as well as vehicle titles.
• Life insurance policies: Identify beneficiaries and initiate claim processes. Obtain policy documents such as life insurance, homeowners' insurance, and health insurance.
• List of passwords and digital accounts: If available, this can ease the process of managing online accounts and subscriptions.

If your spouse handled the finances, it’s okay if you don’t know where everything is. Start with what you can find and work with our team to help fill in the gaps.

Understand Your Cash Flow
You may face new realities like a loss of income, changes in benefits, or new expenses. Understanding your adjusted monthly income and spending is helpful.

Retitle and Reassess Accounts
Joint accounts, property deeds, and beneficiary designations may need to be updated. It’s also important to protect yourself from fraud by notifying banks, credit bureaus, and service providers.

File for Survivor Benefits
If applicable, start by reaching out to the appropriate agencies or organizations—either by phone, online, or in person. Take notes and ask what steps are needed to complete the process. Common areas include:

• Social Security: Contact the Social Security Administration to ask about survivor benefits. Learn more about social security survivor benefits here.
• Life insurance: Reach out to the insurance provider to request a claim form. This typically requires submitting a certified death certificate and a copy of the policy.
• Employer benefits: Contact your spouse’s former employer’s HR department to ask about any remaining benefits, such as life insurance, retirement plans, or final pay.
• Veteran's benefits: If your spouse served in the military, the Department of Veterans Affairs may offer certain benefits to surviving spouses. Contact your local VA office or visit va.gov to learn more.

Review your Financial Plan
Financial planning after loss is not just about numbers, it’s about navigating a new life. Many widows and widowers find it helpful to work with a financial advisor or other professional who not only understands finances but can offer compassion, patience, and experience in times of grief.

At StackStoneWealth, we help families manage life transitions and protect what matters most. Whether you’ve just experienced loss or you’re helping a loved one through it, we’re here to offer guidance, clarity, and care.

For more information on the loss of a loved one, click here.