Before the Storm

by Sue Peterson

Liv Fun: Vol 3 – Issue 3

No one likes to think about the possibility of her husband passing away. Yet statistics tell us most women will end up single at the end of their lives. In fact, women are four times more likely than men to be widowed, and widows typically survive their husbands by 14 years. Taking the time to get your affairs in order while both spouses are alive and well will go a long way toward creating security and confidence for the entire family.

Like starting a new exercise program or making a decision to eat healthier, changing your financial habits can be a challenge. Start with some of the small steps suggested here instead of trying to tackle everything at once. Doing too much at once can be exhausting and make you feel like giving up.

First and foremost, wives need to be fully informed about the family’s financial situation. Finding this uninteresting or unpleasant is not an excuse! Our biannual trips to the dentist or primary care physician are not particularly pleasant, but they are preventive measures that help us be fully informed about our health and give us the opportunity to address any emergent problems in a timely fashion. The same is true of financial awareness and planning.

I have seen new widows come to my office completely overwhelmed and fearful because they were not involved in their family’s finances, and as a result are not familiar with their joint assets, liabilities and cash flows. Avoid this by communicating early and often with your spouse about your finances. We highly recommend both spouses complete a checklist to ensure both parties know about all bank accounts, pensions, loans, location of the safe deposit box, contacts for key advisors, and other relevant information. (We’ve included a link at the end of this article to a good checklist.)

It’s also important to communicate login and passwords for all online accounts, which can save many hours of frustration down the road. Creating and sharing a password list is a good initial “small step” with a huge prospective benefit.

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Liv Fun

by Leisure Care
Autumn 2014
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Before the Storm
by Sue Peterson

No one likes to think about the possibility of her husband passing away. Yet statistics tell us most women will end up single at the end of their lives. Taking the time to get your affairs in order while both spouses are alive and well will go a long way toward creating security and confidence for the entire family.
Read More

After the Disaster
by Jessica McCurdy Crooks

As a young girl growing up in Jamaica, I experienced firsthand the destruction of Hurricane Gilbert, a massively powerful storm that ravaged much of the Caribbean in 1988. Now, 25 years later, the announcement of an approaching hurricane still fills me with dread.
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Gone Missing With Mom
by Tammy Kennon

Ten of us sit around a large wooden dining table at the assisted living home where my mom lives now. She suffers from Lewy Body Dementia, a form of dementia with characteristics of both Alzheimer’s and Parkinson’s. At the time she was diagnosed, she was living alone, still driving herself to church and the grocery store. That was just over a year ago.

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