Released: September 03, 2011

For the recently widowed, some big financial pitfalls to avoid

Source: Ron Lieber, The New York Times

There are few more wrenching events in life than losing your spouse. But to make matters worse, the death of a life partner also unleashes a torrent of financial tasks. And more often than not, it is a woman — a widow — who is taking them on. Women live longer than men, and they’re likely to outlive their male spouses, given that decades ago, many women married men a few years older. Plus, gender roles being what they were, men often took on most of the household finances. As a result, many widows aren’t as familiar with investing, insurance and taxes as their dead husbands were.

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