12.20.2017

Coping Financially After The Death Of A Loved One


Losing a loved one isn’t the nicest thing in the world to have to think about,
but it’s important to consider things like how we’ll cope in different aspects
of our lives if something should happen to them. If your partner is the
breadwinner of the family, losing them could be made even harder with the
financial burdens you’ll have to cope with in their absence.
Even if they are not the breadwinner, losing their income could still mean making a
huge change to your lifestyle.

Here, we’re going to discuss coping financially after the death of a loved one:

Speaking To Close Friends And Family Members
At a time like this, it’s so important to get support from your close friends and family members.

Having somebody to talk to and share your problems with can be a huge help,
even if the problems remain. If you’re struggling with finances, you can also
explain your situation to mortgage lenders, utility suppliers, and credit card
providers and work something out. It’s so easy to forget to inform them as you will
have lots of other things on your mind, but they will help you to work out a plan and
likely be sympathetic to your situation.


Try your best not to panic when you get bills your other half used to deal with.
Take the time to readjust your budget and spending. It can be tough to deal with the
total change of lifestyle, so be kind to yourself.

If you do begin to feel overwhelmed, don’t be afraid to get help, even if you need to
get a note from your doctor to have time off work or see a therapist to get some things
off your chest.

Being Prepared For The Unexpected
Having a cash cushion in place for unexpected circumstances can make this hard time
easier in a way. Hopefully, your loved one will have had a suitable life insurance policy
in place before they died, which you could use to pay off any debts.

Consulting a Lawyer
It can be a good idea to consult a lawyer, even if you don’t know for sure whether
you’ll hire one or not. Many people worry about the cost after losing their other half.
However, a probate attorney who is experienced could help you to save thousands
when dealing with your loved one’s estate.

You should try to take a list of things to discuss with you, so that you can make the
most of your consultation. You will want to make sure you understand the liability issues, and
ensure that you’re not too emotionally drained to do things by yourself. If you believe that you
can’t handle it alone, there’s no shame in getting help at all. Go for a company that
specialize in estate planning and similar things, rather than run of the mill real estate lawyers,

divorce lawyers, and other kinds of lawyers who won’t necessarily have the experience needed.

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