What is the average income of widows?

In 2014, the median annual personal income level for widow(er)s aged 65 or older receiving benefits was $20,200, while the mean income level was $28,760 . The median monthly Social Security benefit for widowed beneficiaries aged 65 or older in 2014 was $1,255, while the mean monthly benefit was $1,275.

What money is a widow entitled to?

If you claim widow benefits at full retirement age, you can receive 100% of your deceased spouse's retirement benefit . In other circ*mstances, Social Security determines the percentage you can claim based on various factors, including your age, whether you have a disability, and whether you care for any dependents.

Is there a widows benefit?

You will need to have been married to (or living together as if you were married) or in a civil partnership with the deceased to be eligible for bereavement support payment . Payments are linked to national insurance contributions, and you can only claim if you haven't reached state pension age yet.

Does the government pay widows?

Surviving spouse, at full retirement age or older, generally gets 100% of the worker's basic benefit amount . Surviving spouse, age 60 or older, but under full retirement age, gets between 71% and 99% of the worker's basic benefit amount.

How much is widows benefits?

Payments start at 71.5% of your spouse's benefit and increase the longer you wait to apply. For example, you might get: Over 75% at age 61. Over 80% at age 63.

What makes a widow happy?

One foolproof way to be a happier widow is to focus on what you can control (your money, your health, your core group) and let go of what you can't . Settling in with uncertainty allows you to let go of expectations of how things should be and embrace what is. No matter how pissed off you are.

Does widow count as married?

Remember, taxpayers whose spouses died during the tax year are considered married for the entire year, provided they did not remarry . The surviving spouse is eligible to file as Married Filing Jointly or Married Filing Separately.

Am I still a widow if I remarry?

According to the law, you're a widow until you remarry . So, the law states that when you get married again, you're no longer a widow for legal purposes. Obviously, if you remarry you are legally the wife of your new spouse.

Can I get money if my husband dies?

A surviving spouse, surviving divorced spouse, unmarried child, or dependent parent may be eligible for monthly survivor benefits based on the deceased worker's earnings .

Do they get the money in widows?

The Women Have Enough Money To Start Anew Assuming that Veronica still decides to pay back Jamal Manning the $2 million that Harry stole, each of the widows walks away from the heist with around $750,000 each. Linda uses the money to reopen her business and care for her family.

Financial Help for Widows: Government Programs & Managing Debt (2024)

Home > Debt Help Advice > Financial Assistance for Widows

The emotional toll of losing a spouse is incalculable. Unfortunately, bereavement is not the only trouble that death brings. It may not even be the most lasting.

The surviving spouse often must deal with significant financial as well as personal loss. While this can impact both sexes, women tend to outlive men, and men tend to out-earn women, so the economic impact falls disproportionately on widows.

Fortunately, financial assistance for widows is out there. Little to none of it lasts forever, but it can be a lifeline for those who suddenly find themselves in need. It’s about more than finding sources of money.

Learning to manage your money, obtaining professional help if you start sinking in debt and knowing how the financial decisions you make affectSocial Securityare part of the equation.

» Learn More:Inheriting Debt

What Financial Help Is Available for Widows?

Before reaching out for assistance, widows need to know what they have, not only from their deceased spouse’s personal life insurance policies and savings accounts, but through his former employer. Find out what he had in retirement accounts and if he had a life insurance policy through the company.

Financial help for single parentscan be found through several government agencies, nonprofit organizations, churches and community groups in the form of grants for low-income widows and professional financial guidance that includes debt management advice.

Of course, the most obvious place to seek help is from those closest to you: your family. A single child can give a widowed mother up to $17,000 with no tax ramifications either way. If the child is married, the limit jumps to $34,000.

Family members could provide a loanat no, or low interest. Naturally, any such loan should have repayment terms written out. That helps avoid both hurt feelings and more complicated problems when the widow dies and her will goes to probate.

Government Help for Widows

There are some government programs available to assist widows with their finances, but don’t count on getting much money from them. The best advice is to go online to Benefits.gov where you will find more than 1,000 state and federal agencies that offer help. Here are a few of the prominent ones worth looking into.

Social Security Widow Benefits

Social Security is an important resource available. You can apply forSocial Security benefitsonline, make an appointment with the local Social Security office or simply walk-in and see if an agent is available.

Depending on what benefits you are applying for, you will need to present certain documents. Here is a list of benefits and what you’ll need to qualify for them:

Widows/Widowers or Surviving Divorced Spouse’s Benefits
Child’s Benefits
Mother’s or Father’s Benefits(Child must be under age 16 or disabled in your care)
Lump-Sum Death Payment
Parent’s Benefits(You must be dependent on your child at the time of his or her death)

A one-time payment of $255 can be paid to the surviving spouse if he or she was living with the deceased; or, if living apart, was receiving certain Social Security benefits on the deceased’s record.

Monthly Social Security benefits may be available to a widow or widower age 60 or older (50 or older ifdisabled), a surviving divorced spouse in some circ*mstances and a widow/widower of any age who is caring for the deceased’s child who is under age 16 or disabled and already receiving benefits.

If the deceased worked long enough under Social Security, the widow/widower can receive full benefits at the full retirement age or reduced benefits as young as 60. The amount of the benefit depends on the earnings of the deceased. The more they paid into Social Security, the greater the benefits.

Financial Assistance for Widows of Veterans

When military personnel die as a result of their service, their spouses are entitled to a death gratuity, which currently is $100,000. It is free from federal and state income taxes for any service member who dies while on active duty or while performing authorized travel to or from active duty.

Dependency and Indemnity Compensation is a tax-free benefit paid to eligible survivors of military service members who died in the line of duty or eligible survivors or veterans whose death resulted from a service-related injury or disease.

For details and other benefits, visitSpousal Survivor Benefits.

Other Government Programs, Grants and Nonprofits for Widows

Let’s start with the bad news: There are no government grants specifically for people who lose a spouse. There are, however, grants to address specific needs, including needs that the widowed often encounter. Again, the best to start isBenefits.gov, which provides links to government benefits in every state.

Housing assistance is available through theU.S. Department of Housing and Urban Development. In addition to public housing that provides affordable apartments for low-income tenants, HUD provides what’s known as Section 8 Housing Choice Voucher Program that can pay for all or part of rent, and also helps apartment owners offer reduced rents to low-income tenants.

Widows looking to improve their long-term finances through higher education may be able to get Pell grants of up to $6,895 per year that are available through the Department of Education’s Federal Student Aid office.

The United Way, the largest privately funded nonprofit in the world, is not set up to provide individual assistance, but works with many community partners who do. Call 211 to reach a referral specialist who will know what services are available in your area.

Dress for Success is another nonprofit that will help women achieve economic independence by providing support, professional attire and development tools to help women thrive in work and life.

» Learn More:What to Do When You Can’t Afford Rent

Charities and Church Assistance for Widows

Most of the nonprofit organizations, churches and community groups that offer assistance to widows can be found online. They usually offer help on a one-time basis for things like food, housing, clothing, furniture and other basic needs. Here are some worth trying:

What Happens to Debts?

Although many of the concerns widows must face involves lost income, there’s also the matter of debt the deceased spouse had. Is the surviving spouse expected topay debts after a death?

A surviving spouse is not responsible for the deceased spouse’s debt unless you co-signed a loan or credit card agreement. The most obvious examples of that are loans for a house, a car or a credit card. As co-signer, you are liable for the debt.

If you aren’t on the loan agreement, you are not personally obligated to pay it off.

However, in community property states (Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin), a husband and wife are each equally responsible for paying each other’s debts as long as one of them acquired the debt during the marriage. Consult an attorney.

Credit Card Debt

Was your name on the credit card as a co-signer? Then, the debt is yours, no matter how often you actually used the card. If you don’t pay on the card, your credit score will take a big hit, and you can expect regular calls from a collection agency.

Can’t pay? Don’t delay: Talk to anonprofit credit counseling agencyfor advice on a debt management plan,debt consolidation loanor debt settlement. Do it before a collection agency starts calling.

However, if your name is on the account simply as an authorized user, you are not responsible for the debts, but the estate is. If money is available when the estate is settled, it will go toward paying the balance of thecredit card debt.

Again, the community property exception applies here. Check with an attorney.

Mortgage Debt

If your spouse dies and the mortgage has not been paid, the responsibility typically falls to you. Assuming you want to keep living there, you’ll need income or assets to stay current with payments.

If the deceased had a life insurance policy, you might use the proceeds to keep paying on the mortgage, or even retire the debt. Another option could be selling the house to satisfy the debt, though that means finding another place to live.

If you or anyone else in your family is unwilling or unable to make payments, the lender canforecloseon the loan and sell the home through auction.

» Learn more:Mortgage Payment Assistance and Relief Programs

Medical Bills

This depends a lot on where you live. In general, a spouse is not obligated to pay the medical debt of another spouse. However, you typically would have to pay if you live in a community property state, or if you signed a document stating that you would be responsible for payments on a medical bill when your spouse was admitted to the hospital.

Some states have what’s called “doctrine of necessities.” This makes a spouse liable for the “necessary” expenses incurred by the other spouse during marriage.Medical billsare almost always deemed “necessary.”

Even in states where those rules don’t apply, the creditor could still seek payment from the estate of the deceased.

Professional Financial Help for Widows

The melancholy irony of widowhood is that in your time of bereavement, it’s important that you don’t try to tackle the big issues all by yourself. That’s true even if you correctly consider yourself a capable, independent person. The issues are too important.

What issues? Pension options. Social Security spousal benefits. Life insurance. Paying the bills. Changes to your house title and other assets. Bringing your own will and estate plans up to date.

This is a time for trustworthy advisers, both for immediate decisions and ones for the long term. Expert advice from an attorney, financial advisor and accountant can help you get through the tough decisions to make your future smoother.

Consult an Attorney

Using an attorney through the probate process is a good idea, even if the issues appear simple, and a really good idea, if they do not. A probate attorney can manage the process, enabling you to make decisions about your future.

Attorneys also can modify your own will and other documents in keeping with your needs and your new situation. Additionally, your attorney will be able to make adjustments to estate planning documents such as financial powers of attorney, healthcare powers of attorney and living wills.

Depending on the complexity of the estate, the legal process can take a few weeks to several years to complete.You absolutely need someone to guide you through that.

Hire a CPA

Taxes can be complicated enough in a normal year. The death of a spouse adds more variables, which makes a CPA a good person to have in your corner.

Some of your benefits may be taxable. Some may not. When filing taxes, you’ll want someone who can get the most out of deductions and plan for what you’ll owe. Unless you’re a tax expert yourself, hiring a CPA is a good move. Do so within the first month after your spouse’s death to make sure you meet tax filing deadlines for the estate.

Hire a Financial Planner

It’s hard to know where you’re going unless you know where you are, and that’s especially true of finances. A financial planner can assess your situation and the impact of your spouse’s passing on your future.

A planner who studies your assets and obligations can put together a financial strategy or update any existing plans to help your life become what you want it to be in terms of retirement, education, travel, charitable giving, among a wide range of possibilities.

That way, you can secure your financial future and avoid any unnecessary risks or sacrifices to your current lifestyle.

Consult a Nonprofit Credit Counseling Agency

Perhaps you’ve been widowed for a while, and you’re having a hard time paying your bills, much less saving for the future. The balance on your credit cards keeps growing, and you can’t seem to get on top of it.

There are reputable, nonprofit counselors that can help. Their services are available by phone oronline. Find one that is certified by the National Federation for Credit Counseling (NFCC) by using your favorite search engine. The NFCC certified the counselors at each of its member agencies and has very strict guidelines those counselors and agencies must follow.

Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals. But take note: Nonprofit doesn’t necessarily mean free, and it’s best to check with online review sites, your state attorney general or local consumer protection agency to make sure they’re legitimate.

Reputable credit counseling agencies can give advice on managing money and debts, helpdevelop a budgetand offer free educational materials and workshops. Their counselors are certified and trained in consumer credit, money,debt management, and budgeting.

Obviously, losing a spouse is difficult. Finding people to help you navigate the issues you’ll face will go a long way of making things better.