Financial planning for widows

After the Loss of a Spouse, One Step at a Time

Paperwork, phone calls and decisions can arrive all at once. Only a few things truly need your attention now. Our free checklist shows you what to do first, what can wait, and how to protect your income in the year ahead.

  • What to handle in the first 30 days, and what can wait
  • Survivor benefits, inherited IRAs and the widow’s tax trap
  • Patient, private help when you are ready, never before

Prefer to talk? Book a quiet, free conversation or call (407) 974-7100.

Cover of The Widow’s First-Year Financial Checklist
Free guide for women

The Widow’s First-Year Financial Checklist

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20+ Yearsguiding retirement decisions
Independentnot tied to one company
Always Freeevery session, no obligation
Home or Officevideo, phone or in Orlando
Widow with a cup of tea by a sunny window, planning her next steps
First, take a breath

You Do Not Have to Figure Everything Out Today

Most major financial decisions are better made six to twelve months from now. Keep the essentials paid, gather your papers and claim what you are owed. The rest can wait until you feel ready.

Handle soon

  • Death certificates
  • Notify Social Security
  • Keep key bills paid
  • Life insurance claims

It is okay to wait

  • Selling or moving
  • Moving retirement money
  • Loans to family
  • New investments
Your first year

A Simple Timeline for the Months Ahead

The free checklist breaks each stage into small, clear steps you can check off.

First 30 days

Protect and Notify

Death certificates, Social Security, essential bills, key papers and an estate attorney.

Months 2 to 3

Claim What Is Yours

Life insurance, survivor benefits, employer benefits, pensions and veterans benefits.

Months 4 to 6

Retitle and Organize

Joint accounts, inherited IRAs, your new budget and your own beneficiaries.

Months 7 to 12

Taxes and Your Plan

Final returns, the widow’s tax trap, Florida’s widow exemption and long-term income.

Roger Fishel reviewing a retirement income plan with a client at her Florida home
How we help widows

We Start by Listening

1

A Quiet Conversation

No agenda and no pressure. Bring a family member or friend if you like.

2

Organize and Claim

We help you list accounts, claim benefits and see your new income as a single household.

3

Decide When You Are Ready

Taxes, inherited accounts and the house, in your time. Never before.

At your kitchen table by video, by phone or in person in Orlando.

Go deeper

What Widows Should Know

Choose a topic when you are ready to read more.

How Social Security Survivor Benefits Work

Up to 100%, as early as 60, and switching strategies

When one spouse dies, the household keeps the larger of the two Social Security checks and loses the smaller one. How and when you claim can make a big difference.

  • Up to his full benefit. At your survivor full retirement age you can receive up to 100% of what your husband was receiving or was entitled to. If he claimed early, the survivor benefit may be lower, although special rules set a floor.
  • Start as early as 60. Reduced survivor benefits can begin at 60, or 50 if you are disabled. If you are caring for his child under 16, you may qualify at any age.
  • Take one, then the other. Survivor and retirement benefits are separate, so many widows can start one and switch to the other later.

Example: Maria is 60. Her late husband’s benefit was $2,800 a month, and her own benefit at 70 is projected at $2,500. She could start a reduced survivor benefit at 60 and let her own benefit grow until 70, or start her own reduced benefit and switch to the full survivor benefit later. Which order pays more depends on her health, other income and taxes. This hypothetical example is for illustration only.

The Social Security Fairness Act, signed in January 2025, repealed the Government Pension Offset. If you have a pension from government work, such as teaching, you may now qualify for a survivor benefit you were previously denied.

Questions widows ask us

Financial Planning for Widows: Frequently Asked Questions

What financial decisions should a widow avoid making right away?

In the first months, avoid big decisions that are hard to undo: selling the house, moving, cashing out retirement accounts, lending money to family, or buying investment or insurance products you do not fully understand. Focus first on paying the essential bills, gathering documents and claiming the benefits you are owed. Most major decisions can wait six to twelve months, and they are usually better decisions when they do.

How soon can I collect Social Security survivor benefits?

You can receive reduced survivor benefits as early as age 60, or 50 if you are disabled. If you are caring for your late spouse’s child who is under 16 or disabled, you may qualify at any age. The full survivor benefit is available at your survivor full retirement age. Survivor benefits are not applied for online; you apply by calling Social Security at 1-800-772-1213 or visiting a local office. A one-time $255 death payment may also be available.

Can I switch from survivor benefits to my own Social Security later?

Often, yes. Because survivor and retirement benefits are separate, many widows can take one first and switch to the other later. For example, you might take a reduced survivor benefit at 60 and let your own benefit grow until 70, or take your own benefit first and switch to a full survivor benefit at your survivor full retirement age. The right order depends on the two benefit amounts, your age and your health.

Will my taxes go up after my spouse dies?

They often do. In the year your spouse dies you can usually still file a joint return. After that, most widows file as single, unless they have a dependent child, which allows the qualifying surviving spouse status for two more years. Single tax brackets and the single standard deduction are roughly half the size of the married ones, and Medicare IRMAA surcharges start at a lower income for single filers. On similar income, many widows pay noticeably more tax. This is often called the widow’s tax trap, and it can be planned for in advance.

What should I do with my late husband’s IRA or 401(k)?

A surviving spouse usually has the most flexible options of any beneficiary. You can roll the account into your own IRA, which often makes sense if you are over 59½. You can keep it as an inherited IRA, which lets you take withdrawals without the 10% early withdrawal penalty if you are younger than 59½. Or, in some cases, you can elect to be treated as the deceased spouse for required minimum distribution timing. The best choice depends on your age, income needs and taxes, so review it before you move the money.

Does Florida have a property tax exemption for widows?

Yes. Florida offers a $5,000 property tax exemption for widows and widowers who are Florida residents, in addition to the homestead exemption. You apply with your county property appraiser. The widow’s exemption ends if you remarry, so it is worth confirming your current exemptions after a loss.

Do I need to go through probate in Florida?

It depends on how assets were owned. Accounts with named beneficiaries, jointly owned property and assets held in a living trust generally pass outside of probate. Assets titled only in your spouse’s name may need to go through Florida probate, and smaller estates may qualify for a simpler summary administration. A Florida estate planning attorney can tell you what applies to your situation.

How can I protect myself from financial scams after losing my spouse?

Scammers target recent widows through obituaries and public records. Be cautious of anyone who contacts you unexpectedly about debts your spouse supposedly owed, anyone pressuring you to act quickly, and anyone offering an investment that sounds too good to be true. Take time before you sign anything, ask a trusted person to review offers, and never give account details to an unsolicited caller.

Plan • Protect • Prosper

You Do Not Have to Do This Alone

Start with the free Widow’s First-Year Financial Checklist. When you are ready, Roger is here for a quiet, no-pressure conversation about the years ahead.

Every session is free, by video from home, by phone or in person in Orlando. Prefer to call? (407) 974-7100