What Not To Do When a Loved One Dies

Losing a loved one is the hardest time in one’s life and knowing what not to do when a loved one dies is so important. With the to do list that comes along with making arrangements after your partner’s passing, sometimes decisions can be made hastily or even brushed to the side. Grief is different for everyone, and during an emotional time we never know how we are going to react. We have guides for what to do when a loved one passes away, but what about the things we shouldn’t do? We have a some quick advice for what not to do when a loved one dies.

What Not To Do When a Loved One Dies

Don’t Be Too Quick To Give Away Their Stuff

Sometimes we see a quick reaction to losing a loved one is to give their stuff away. It can be painful in the moment to have their belongings as a reminder that they’re no longer there. While getting rid of these items may ease the grief, it is most likely temporary. Take a step back for as long as you can before you start passing on their belongings. After losing a partner you will need time to assess your financial situation and see what makes sense for the next chapter of your life. Make sure that if you are giving anything away, especially if you are gifting money or large assets, that they make sense to your new financial situation.

Don’t Make Large Purchases

The grief of losing a partner can evoke many different reactions is us. The need to “get away” is something that we sometimes see. While it may sound nice to pack everything up and start over, does it make sense? Buying new property may be in your plan, but sometimes we see people spending outside of their means or going about things in a way that isn’t tax efficient. Take some time to plan ahead versus acting from grief. It’s not easy, but you will be setting yourself up for a comfortable future versus rushing into something that can be financially devastating.

Don’t Make Big Decisions

There’s no doubt that you’ll need to assess your situation and make some decisions about your future. You most likely had plans with your partner that are now not a part of your future. You may feel like you need to make a big change right away, but don’t make any big decisions if you don’t have to. You don’t need to sell your family home if you don’t want to. You don’t need to move away or sell a business right away. Take time to see what you are called to do and what financially makes sense.

Seek comfort from your remaining loved ones and always know your estate planning professionals are there for you. Consult with them and your financial planner when making the big decisions about the next phase of your life.

If you are in Illinois or Wisconsin, let us help. Contact us today and let us guide you through the estate planning process.