Key Financial Moves for the Recently Widowed

— -- Most married women whose marriages stay intact become widows. Women on average live longer than men, and most marry older men. The statistical result of these factors is that the median age of widowhood is around 60.

• Obtaining multiple copies of the death certificate from the funeral home (many provide them) or from the clerk of court in your county or city. These aren’t photocopies of the original. They’re official copies carrying the clerk’s seal, and as such, they’re legally valid for submission regarding estate matters and the transfer of assets.
• Understanding current expenses and existing cash. If you haven’t been involved in paying the bills, go through the check register or the account online (after getting the password by visiting the bank with an official copy of the death certificate).
• Getting a handle on assets, including liquid assets—such as stocks and money market accounts—that you may need to draw from to pay living expenses. If you do need to take money out of these accounts, be mindful of possible tax consequences.