Managing Finances Through the Loss of a Loved One

Sep 28, 2022Financial Literacy

Important things to know about Managing Finances Through the Loss of a Loved One

 The passing of a loved one, whether expected or not, can be among the most stressful incidents in life.  On top of navigating the emotional pain of the loss, there are many things that will need to be considered, often in a timely manner.  This is particularly the case with financial affairs.  It is important to know that with a little planning, this process can be made less stressful.

Using the free *Native American Financial Services Association (NAFSA) Financial Literacy Program, you can explore online playlists with many modules that relate to overall financial competency, whether this is preventing elder financial abuse or reporting elder financial abuse, our curated playlists will provide you with important information.

Managing Finances Through the Loss of a Loved One:

When a loved one dies, there are many things to keep in mind, but the key thing is to focus on the immediate needs.  Assessing immediate financial matters in order to make sure the basics are covered is key while the remainder of the estate is being settled.    

Our Managing Finances Through the Loss of a Loved One module, located in the Financial Caregiving playlist, walks through key matters such as survivor benefits, will and estate, property titles, financial accounts, necessary notifications and more, all of which vary based on the financial situation of the person who has passed.  The module also provides information about the role of an executor, funeral plans, tax returns, and closing out debts.  Like so many facets of overall financial caregiving, this can be an arduous process, and proper planning is key. 

The NAFSA Financial Literacy Program provides a variety of modules and tools with easy-to-understand information to help people better comprehend their finances and make more informed decisions. 

Explore the program today:

*The NAFSA Financial Literacy Program content contained on the NAFSA web page(s) referenced above, and on any subsequent pages created by our service providers/partners, provides general consumer information. It is not legal advice or regulatory guidance. There may be other resources that also serve your needs and you are always encouraged to, and should, consult with your own professional advisors prior to making any financial decisions.

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