Navigating Personal Finances After Loss

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5 Accounting Tips That Can Save You Money

Losing a loved one is one of the hardest things to go through. Not only are you grieving that person and honoring their memory, but there are many technicalities to decipher and the reordering of your life. Especially in the case of a spouse, you’re readjusting to life without your partner. You’re responsible for taking care of all of their post-death forms, bills, and the legalities of these changes. You also will need to reassess and evaluate your own personal finance situation.

When your partner or someone who shared financial burdens with you passes away, those bills now fall squarely on your shoulders. It can be a time of impulsiveness. You want to make changes to give you peace of mind about your financial situation. Remember not to rush into anything. Take time to understand your new situation, your new needs, and what you need to take care of for that individual. Grief is tough. Honor your feelings as you work to navigate your new financial situation amid a great loss.

Take care of yourself first.

In order to navigate your finances, you have to first monitor your behavior and find your strength. It’s okay to take time to grieve and honor your emotions. Schedule time with a therapist or counselor that can help talk you through your sadness and any feelings of loneliness you may have. Your painful emotions are a part of complicated grief. Monitor that you don’t fall into maladaptive grieving, which can become unhealthy and self-destructive. Those situations are where a psychotherapeutic technique can help pull you out of that depression and get you on your way to feeling better and taking back control of your life and finances.

Navigate the legalities of property.


When someone dies, their contracts, property, and loans need to be transferred somewhere. Your property and your home are often affected by this. You’ll need to settle the estate. If you’re a spouse, immediate relative, or someone specifically mentioned in a will, the property will usually go to you or to your affiliates. You can then decide what to do from there.

There are many reasons why you may choose to sell your property after a loss. Maybe the pain of that person not being there is too great, or you just have way more space than you need. When you plan on selling, a conveyancer in Melbourne has years of experience and can assist with complicated property transactions. Let experts help you with your grieving process and your relocation. This will guarantee you get the best value for your property.

Figure out insurance changes.

When someone passes away, you’re responsible for taking them off their contracts. One of these will be your insurance policy. You can save money by taking the deceased off your auto insurance because they no longer need full coverage for obvious reasons. This will make your comprehensive car insurance cheaper for you without that high deductible amount for two drivers. This is a good place to start to save money and cut back on your expenses.

Learn your new cash flow.

As a couple, you and your spouse most likely shared financial responsibilities. You have a joint income and shared the load of the bills. Without that person around, you need to examine and learn your new cash flow. What will be your overall income without that person, and what are your new monthly expenses? This will help you understand the actual cash value of your new living. You can also bring into account any life insurance policy or money you get from the deceased. Overall, getting an overview of your new average cost of living will help you make a plan for how you will live moving forward.

It may seem impossible in the beginning, and you should always respect the poetics of mourning, but you will be able to adapt to your new life over time. It’s a good idea to go ahead and take care of as much paperwork as you can before then.

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Samantha Acuna is a writer based in San Francisco, CA. Her work has been featured in The Huffington Post,, and Yahoo Small Business.