Any Advice for an Overwhelmed Widow?

Hi Scott,

It is with a heavy heart that I write for advice. Last week, my best mate of many years suddenly decided to end his life, leaving behind young wife and two primary school aged kids. He also left behind a financial mess. I have told his wife to call and get everything ‘frozen’ while she comes to grips with it all, but is there any other advice you can give her?

Tom

Hi Tom

What a heartbreakingly sad situation. I’m so sorry for your loss.The admin that’s required after someone dies can be overwhelming… especially if you’re grieving.

However, the first thing she should do is contact her husband’s super fund. The final payout is called a death benefit, and it’s a combination of his final balance and any insurance held at the time of his death.

To get the ball rolling, she’ll need his death certificate (or, if that’s not yet available, the interim death certificate), his passport, his driver’s licence (or birth certificate), a copy of his will (if there is one), and letters of administration (if applicable). Generally, banks and other financial institutions will need a death certificate before they can start the process of settling accounts.

From experience, she (understandably) won’t be in any state to make rational financial decisions for at least a few months. What she needs is someone who can help her get a clearer picture of her financial situation. And that’s the job of a best mate.

Note to the reader: I’ve offered to help them through this process.

Scott