Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Saturday, June 28, 2014

4 Considerations When Planning Financial Protection for a Spouse

ChecklistMaking wise decisions on pension plans can have a direct impact on the plan holder’s spouse. Many couples face the choice between a pension that results in bigger payouts that covers the pension holder for life, and one with smaller payouts that also covers the spouse. If the goal is financial protection for the spouse after the plan holder dies, there are four things couples should consider:

  1. Don’t take out Social Security earlier than needed out of fear of dying before collecting
  2. Keep the account beneficiary updated
  3. Know which plans, like a 401(k), will go automatically to the spouse, and which won’t
  4. Not all annuities cover the life of the surviving spouse 

 See Jane Bryant Quinn, How to Financially Protect Your Spouse, AARP Bulletin, June 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.


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