The to-do list after losing a spouse is long. You don't have to tackle this list alone. Every widow and widower deserves the guidance and advice of a trusted financial professional. All of Wings for Widows' volunteers are Certified Financial Planning™ Professionals trained and ready to help with your specific situation.
Are you overwhelmed by all of the financial and legal matters that come alongside new widowhood? Gain some peace of mind by working one-on-one with our Certified Financial Planning™ Professional volunteers and check all the to-do's off your list!
Wings for Widow's Executive Director Discusses International Widow's Day
Today is #InternationalWidowsDay - Losing a spouse is devastating and navigating what’s next is difficult for every widowed individual, which is why it’s so important to support widows in any way you can.
Our Founder and CEO Chris Bentley discussed International Widows Day and the resources available to help with Fox 9 . Check out the interview to learn more!
Founder & CEO of Wings for Widows, Chris Bentley, Interview on WCCO
International Widows Day is tomorrow and serves as a reminder for us to support and guide those who are grieving the loss of a spouse.
Chris Bentley, our founder and CEO, shed light on the urgent needs of widowed men and women and the resources available with WCCO & CBS News Minnesota. Check out the interview to learn more. #InternationalWidowsDay #Support #LifeAfterLoss
Your Legal & Financial Rights
In the aftermath of a spouse's passing, navigating the legal and financial landscapes becomes an unavoidable aspect of moving forward. This journey, while complex, is integral to ensuring that you're taking the right steps to protect your financial future and uphold your rights. This article in our series delves into the crucial legal and financial considerations that widowed individuals face, from discerning which debts you're legally responsible for to understanding the benefits that may aid you during this time. With a focus on empowerment through knowledge, this second article aims to equip you with the information needed to navigate these challenges with confidence.
Navigating Estate Matters: Understanding What Debts You're Responsible For:
After the loss of a spouse, one of the first legal steps involves determining the estate's obligations and your responsibilities towards any debts. The rules governing debt responsibility can vary significantly depending on your state's laws, the type of debt, and whether or not you co-signed for it. Generally, the estate of the deceased is responsible for paying off any outstanding debts before any inheritance can be distributed. However, if the estate cannot cover the debt, situations vary for the surviving spouse, especially in community property states where you might be liable for your spouse's debts incurred during the marriage, even if you didn't sign for them.
Here's an example. Imagine your spouse had a credit card used exclusively for their personal expenses, with no joint account holder and the account was opened in their name only. Suppose this card was used for purchases unrelated to the family's everyday living expenses, and you, as the surviving spouse, never signed any agreement to be responsible for the account. In this scenario, if you live in a non-community property state, you typically would not be responsible for this credit card debt after your spouse’s passing. The responsibility to pay this debt
It is common for widowed persons to sell their spouse's vehicle after their passing. Make sure you transfer the vehicle properly by following these easy steps! Want more information? Subscribe to our monthly newsletter to view the full article on transferring your vehcile.