Managing the Financial Impact of Widowhood
June 2016 | WISER and SAGE's National Resource Center on LGBT Aging
“The June 26, 2015 Supreme Court Ruling in Obergerfell vs. Hodges provides equal protection for same-sex marriage. This series of fact sheets produced by WISER and SAGE's National Resource Center on LGBT Aging is designed to help LGBT couples understand their finances in relation to marriage, divorce and widowhood, all life events that now have the benefit of equal protection and due process.”
The emotional impact of widowhood can be overwhelming, but the financial impact can hit just as hard. There is often a decline in standard of living for the surviving spouse; household income can decline due to changes in Social Security benefits and the possible loss of the deceased spouse’s retirement income and earnings.