The death of a spouse or partner, whether sudden or following a long illness, can be shattering. Grief, turmoil and emotional vulnerability make dealing with complicated financial matters the absolute last thing any bereaved partner should feel like doing.
And yet sadly, coping with the financial aftermath of a partner’s death, and then adjusting to financial life as a single person, is something every widow or widower must face – sooner or later.
If, as is often the case, the deceased partner had single-handedly managed all the household finances, it can be utterly overwhelming for the surviving partner to understand everything, let alone make important decisions. If ownership of a business was involved, matters become even more challenging and stressful.
It’s easier said than done but the critical thing is to not feel pressured – even by well-meaning family members or business associates – into making quick financial decisions just to ‘get it done’ and ‘move on’. In the midst of an avalanche of helpful (and not so helpful) suggestions, directives and ideas from family and friends, it’s refreshing and reassuring to get outside help from an experienced professional.
Fiducian’s financial planners really come into their own in helping clients through life’s most difficult times. Some of our financial planners become mentors, counsellors, and even close friends with their clients while steering them through the financial ramifications of the loss of a partner.
Coping with the loss of a partner is difficult enough. Grief, shock and sadness shouldn’t be made worse by piling financial worries on top. During such a difficult time, it makes sense to let a financial planner ease that burden at least.