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How to Survive After the Sudden Loss of the Breadwinner
Losing a loved one is never easy, but when the primary breadwinner dies, it isn’t just devastating — it’s scary. Moving forward, there’s the unknown of whether or not you’ll be able to afford your rent or mortgage, put food on the table, or take care of even the most basic bills.
Even though you are faced with a new set of responsibilities and financial obligations, there is still a great chance for you to continue living the life you were. So let’s talk about how you can financially survive after the death of a loved one.
Make Sure There Are No Surprises
You’ll want to be sure that your loved one has no loans currently out. Sometimes, people take out loans without saying anything because either they want to surprise someone, or they’re too embarrassed to admit it. Either way, you don’t want that debt falling on your shoulders by surprise.
Get the Estate Details Squared Away
The “estate” is basically the culmination of someone’s money and possessions. If your loved one has a last will and testament finalized, then the deceased person’s money and possessions will be divided accordingly.
However, if there is no such will, then it is up to you to contact your loved one’s lawyer to get it all squared away.