Surviving Financial Crises

Wills and Trusts

What if I cannot pay for the current bills after my spouse dies?

If you have a lot of joint debts that cannot be paid off, you may have to consider filing for bankruptcy. You can negotiate a payment plan with some of your creditors to see if they can lower your monthly payments. If the debts are loans for such things as a car or a house, you may have to immediately consider selling the assets.

Wills do more than just name beneficiaries; they also direct who should handle the deceased’s estate, who will become the guardian for any young children, and other specific wishes.


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