Although an inheritance need not come from a spouse’s estate, many of the following issues are those faced by widowed women. Due to their greater longevity, women over age 65 are almost three times more likely to be widowed than men. If a woman has not been involved in financial planning with her spouse and is not aware of the marital assets or marital liabilities, in addition to dealing with her loss, she may face new financial realities very quickly. If her husband left her well provided for, there are still special considerations and concerns to face when coping with her new wealth, which are discussed below. However, if the wife was not left well provided for, she may be faced with creditors and the need to make a change in lifestyle, including entering or returning to the workforce if she is not employed outside the home.
Inheritance laws, which can be quite complex, are governed by state law. Most states are “noncommunity property” states. In community property states, each...
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Suggested Reading
Barney, C., & Collins, V. (2002). Best intentions: Ensuring your estate plan delivers both wealth and wisdom. Chicago: Dearborn Trade.
Plotnick, C. K., & Leimberg, J. D. (1998). How to settle an estate: A manual for executors and trustees. New York: Penguin Putnam.
Rottenburg, D. (1999). The inheritor’s handbook: A definitive guide for beneficiaries. Princeton, NJ: Bloomburg Press.
Suggested Resources
Older Women’s League (OWL): http://www.owl-national.org/reports.htm (Retrieved May 31, 2003).
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© 2004 Kluwer Academic/Plenum Publishers
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Lowder, J.L., Rossman, D.S. (2004). Inheritance. In: Encyclopedia of Women’s Health. Springer, Boston, MA. https://doi.org/10.1007/978-0-306-48113-0_219
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DOI: https://doi.org/10.1007/978-0-306-48113-0_219
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