How Should I Prepare for the Potential Loss of a Spouse?

The loss of a spouse to either death or divorce is one of the most traumatic experiences anyone can go through. Life will change irrevocably in many ways for the surviving spouse or separated partners. This article reviews often-neglected steps that may lessen the burden and financial issues that you and/or your spouse may face when this painful loss occurs. So-called “widow planning”—applying equally to widowers and to contingency plans for divorce—is an essential part of any couple’s financial preparedness.