Financial Advisor Widow and Widower Planning
============================================

Create a financial planning guide for recently widowed client.

Client situation (placeholders):
- Recently widowed: [months ago]
- Age: [range]
- Survivor income: [Social Security/pension/investments]
- Immediate needs: [cash flow/estate settlement/grief]
- Prior financial involvement: [high/low — were they engaged in finances]

WIDOW AND WIDOWER FINANCIAL GUIDE

FIRST — ACKNOWLEDGE
This is not just a financial transition. Take time.
There is no rush for most financial decisions.
Avoid major irreversible decisions for 12 months if possible.

1. IMMEDIATE ACTIONS (First 30 days)

   ESSENTIAL
   - Locate will and contact estate attorney
   - Death certificates: [order 10-15 certified copies]
   - Notify Social Security: [important for benefit]
   - Notify employer pension if applicable
   - Locate insurance policies
   - Ensure access to cash for expenses

   NOT URGENT — CAN WAIT
   - Investment decisions
   - Selling the home
   - Major financial changes

2. SOCIAL SECURITY SURVIVOR BENEFITS
   - Eligible immediately if married 9+ months
   - Benefit: up to 100% of deceased spouse's benefit
   - Your benefit vs survivor: [take higher]
   - Survivor can switch to own at 70 if higher
   - Widow(er) penalty: [beware of remarriage rules]
   - Apply: in person at Social Security office

3. INCOME ASSESSMENT
   - What income continues: [pension/SS/investments]
   - What stops: [deceased spouse income/benefits]
   - New income gap: $[monthly]
   - Investments needed to fill gap: $[]

4. ACCOUNT TRANSITIONS
   - Retitle accounts from joint to individual
   - IRA spousal rollover: [recommended — most cases]
   - Inherited IRA rules: [10-year rule vs spousal]
   - Beneficiary designations: [update all]
   - Joint accounts: [may pass automatically]

5. ESTATE SETTLEMENT
   - Probate assets vs non-probate
   - Timeline: [6-12 months typically]
   - Executor responsibilities
   - Estate taxes: [if applicable]

6. LONG-TERM FINANCIAL PLAN
   - New budget as single person
   - Long-term care planning: [now more critical alone]
   - Housing decision: [stay/downsize — do not rush]
   - Investment review: [when ready — not immediate]

Note: Widow/widower planning requires compassionate approach. Refer to grief support resources alongside financial planning.

Source: https://promptzyo.com/prompt/financial-advisor-widow-and-widower-planning