Although women are in control of most family assets these days, that does not mean they are not subject to the emotional angst that accompanies grief after the death of a spouse. Even financial savvy women—women advisors and women who have successful businesses—need support during times when grief and emotional stress cause disorientation. This makes it difficult to think clearly at a time when critical decisions have to be made.
One solution is to make a ‘what-if’ plan to provide structure when a spouse dies. Of the Boomer generation, 70% of wives will outlive their husbands. Widows
are not relegated to any particular age, although we commonly think of widows as being older. Young women whose husbands have died in military combat also need the support of a good plan and a caring advisor to get them through. Younger widows needs are different. They may have young children to take care of and to educate. They may need additional sources of income since the two-income household has been cut to one.
All widows need help becoming accustomed to being on their own and deciding a course for their lives. Even if a woman has a successful business, the day to day regimen of her life will be different. We tend to think that people with businesses have no trouble filling their time outside of business hours. These are the times which may be more difficult. She may wish to spend more time traveling with friends. Widows of all ages and life situations may need financial education. The most important thing is to have someone to listen and who is patient enough to provide the support needed during the grief process.
This Website Is For Financial Professionals Only