Life is an unexpected journey, and can honestly come to an end at any moment. We may believe that we are prepared to die, and yet life after death for our loved ones can be messy; in many cases we don't understand the tangled web that we leave behind us for our loved ones to deal with. According to a Wall Street Journal article, one wife had to deal with this very problem after her husband died unexpectedly from a heart attack at the young age of 57. As a couple they had done quite a bit to prepare for life after death, many more than the average couple; and yet that still wasn't enough to prepare Alexandra Kaye for what was to come.
Her and her husband Jeff lived in Washington and together they had established a will and also talked together through the details of what would happen in the event one or both of them passed away. Unfortunately their preparations were not enough, 51 year old Ms. Kaye was presented with many red lights regarding her husband's financial matters. She came across barriers with the bank, and she was even locked out of his email account; tis surprised her when she thought that they had been well prepared for this very thing.
What then, was the issue at hand? When interviewed by WSJ, the Washington bureau chief for the Times of London discusses that she did not have access to her husband's specific accounts because did not have a completely list of all of his passwords. She claims that even though she established a will, she realized that she really was ill prepared for what it takes to deal with financial matters after a spouse's death. Because she was a British citizen and her husband American, she came across many complications regarding her banks and separating accounts. Sadly, all of this was happening while she was trying to care for her husband's estate that he let behind while raising their sons at the same time.
In order to avoid painful situations like this after the passing of your spouse, contact a probate attorney immediately for help with all of your estate planning needs. No matter how young you and your spouse are, you never know when a life altering event will occur in life, and you want to be prepared. Especially in the event you have children, making sure that they are well protected in the event of both parents dying in an accident is crucial. Here are a few tips to consider in order helping prepare you for situations like Ms. Kaye.
First off, make sure your name is attached to all of your spouse's assets, and beneficiary information. It is common that one spouses passes away suddenly, and it can lead to a lot of confusion and hardship that could have been avoided had you planned your estate previously. This includes making sure you are listed as a beneficially on your spouse's stock options, investments, etc. as well. Another helpful tip is to carefully unwind your joint accounts when your spouse passes away. This is a delicate process and needs to be done properly in order to protect your finances. Lastly, preserve any and all passwords in a secure location that you and your spouse can access in the event of a death. This is essential in order to deal with numerous accounts, stocks, etc.
In order to be thoroughly prepared for this process, contact a probate lawyer in your area today for the legal assistance you deserve to protect the future of your loved ones in the event of an unexpected death. Don't wait before it's too late!