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Important Questions to ask a Late Spouse’s employer

Losing your spouse is a huge loss in your life.  What do you do now?  Where do you go, who do you notify, who will help you with your finances?  You’ve never balanced a checkbook before – your spouse paid all the bills.  How will I be able to do this??   In the heartache, grief and uncertainty, things tend to be put aside.  We want you to know that this is normal and we can help you stay on track with your finances so you can feel you have some sense of control again.

First of all, we want you to take care of yourself. Finding a support group in your community or finding support from family and friends is extremely important. The benefits of finding a support group that focuses on those who lose a spouse and help you feel like you are not alone. These groups and support systems show that there is light at the end of the tunnel and remember that this may take time. We want you to feel like yourself again with confidence and a sense of control.

Contacting your financial advisor is a great step to overcoming uncertainty and concerns. Your advisor will show compassion to your situation and help you get on track and guide you step by step through undoubtedly the most difficult situation. If your late spouse was still employed, your advisor will help you get your bearings from your financial standpoint and talk about what important questions to ask the employer.  A few important questions include:

  • Do they have any unpaid salary?
  • Any leftover vacation payment?
  • Did they have any additional paid sick leave left?
  • Does my spouse have any insurance policies?
  • Did they have a health savings account or flex plans?
  • Requiring access to retirement and 401(k) account?
  • What about Pension benefits?
  • Does my spouse have any final deferred compensation?
  • Did they have any stock options or profit sharing with the employer?

Trying to think of all the steps you need to take after your spouse passes can leave you feeling overwhelmed. We are here to help you.  We recommend that you connect with other people in your situation and connect with the team in your Wealth Advisors office to get through this huge life change of events.  Here at Sweet Financial, we can away the burden of making calls and finding the correct paperwork for those unexpected situations so that you can focus on you.  We will help you through the entire process to gain control and live your life financially after a loved one dies. Remember that things like this take time.

“Be content to progress in slow steps until you have legs to run and wings with which to fly.” -Padre Pio.

To learn more, download the ebook “What to Do When Your Spouse Dies”  or contact a Wealth Advisor with Sweet Financial.

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Opinions expressed are those of the advisors at Sweet Financial Services and are not necessarily those of RJFS or Raymond James. All opinions are as of this date and are subject to change without notice. You should discuss any tax or legal matters with the appropriate professional.

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