Many widows are unprepared to manage their finances after their husbands die, according to a survey by Mathew Greenwald & Associates Inc.
The problems go beyond being able to pay bills. The survey of nearly 250 widows under the age of 70, with financial assets between $50,000 and $1 million, found that nearly one-third of these women didn't have an emergency fund until after their husbands passed away. One-quarter of respondents had difficulty filing income taxes since 61 percent said their husbands always filed their taxes.
More than half had been responsible for paying the household bills when their husbands were alive, but only 30 percent of them had been in charge of making decisions about financial planning and investments, the survey found.
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