The loss of a spouse through divorce or death can be one of the most difficult events in anyone’s life. Often the event is unexpected and comes as a shock, leaving many women full of questions. While there are many decisions that need to be made during this difficult time, the choices can be compounded by financial realities.
Let Jemma Financial help.
Financial Considerations After a Divorce
Whether contentious or amicable, a divorce is an emotionally trying experience as it is never one’s intent when exchanging vows. However, this unfortunate reality comes true for approximately half of all marriages. As you cope with the emotional and complicated feelings that come with divorce, remember to consider the important financial implications for you and your children. This is especially important for women, as research has found that divorce has often resulted in women having reduced financial resources going forward. No matter where you are in the stages of divorce, Jemma Financial can help you with:
- Creating a budget based on your new living situation.
- Updating all financial documents, such as individual retirement or 401(k) accounts and life insurance policies.
Let Jemma Financial help you secure a brighter financial future for you and your family.
Managing Your Finances as a Widow
Not many events are as heart-wrenching in one’s life as the death of a spouse. Approximately 70% of Baby Boomer women are expected to outlive their husbands. Women generally live longer than men, so many women will live a portion of their adult lives without a spouse.
As you begin to cope with your grief and loss, managing your finances may seem like an overwhelming task. With Jemma Financial, know that you are not alone in going through the process of understanding how to make financial decisions with regards to:
- Insurance proceeds.
- Social Security benefits.
- Bank and investment accounts.
- Budgeting and understanding loans, bills and other financial obligations.
At Jemma Financial, we are here to help guide you through this difficult time in your life.