Page 8 - Stuart Exposure - September '20

Page 8, Stuart Exposure

FinanciaL Focus

Financial Moves For Widows on accounts held only in your name, such as your 401(k). These financial needs described above, you’ll want to think about
• Plan for your future. Once you’ve handled the immediate
designations are powerful and can even supersede instructions
And Widowers in your will or living trust. your own future. This means you may have to update your
• Go over bills and debts. Review all your bills, automatic estate plans and insurance policies. You’ll also want to consult
By Bryce Buchanan, payments and outstanding loans. If they are in your spouse’s with your financial advisor to see what changes, if any, you
Edward Jones name, or in both your names, contact the merchant or financial might need to make to your investment portfolio.
If you’ve recently become services provider to change all correspondence and account Only time can ease the pain of losing a spouse. But by
a widow or widower, you’re information to your name only. For any outstanding accounts in taking care of the mundane matters of daily living, you can at
obviously dealing with an your spouse’s name, you may need to notify the business that all least alleviate the feelings of being overwhelmed – and that,
enormous emotional burden, payments will be handled by your spouse’s estate, if you choose in itself, has value.
and coping with your grief to go that route. You may need to provide these businesses with This article was written by Edward Jones for use by your
can seem like a full-time the contact information of your estate planning professional. local Edward Jones financial advisor.
struggle. Unfortunately, the
business of life must go on – art Happenings
and the financial moves you
make at this time can have a
big impact on your life.
So, as you attend to your affairs, consider the following MCOST Raffle Will Benefit •Red Barn Furniture, 513 S.E. Monterey Road, Stuart,
suggestions: 10 a.m. to 3 p.m. Monday to Saturday
• Don’t make hasty decisions. Even though you will need Local Artists •Kling Gallery, 723 S. Colorado Ave., Stuart, 10 a.m.
to make some moves in the near future, don’t feel rushed into to 5 p.m. Tuesday to Saturday
decisions that may prove to be ill-advised. For example, don’t By Jackie Holfelder •Stuart Art Supply, 45 S.E. Kindred St., Stuart, 10 a.m.
immediately sell your home or liquidate all your stocks. For the past four years, January on the Treasure Coast to 4 p.m. Monday to Saturday
• Consult with your estate planning professional. If you has been highlighted by the Martin County Open Studio •Gilt Complex, 608 S. Colorado Ave., Stuart, 10 a.m.
and your spouse created an estate plan involving a will, living Tour (MCOST). to 5 p.m. Tuesday to Saturday
trust or other documents, you’ll want to consult with your estate This artist-run event is presented by The Martin •The Palm Room, 3760 S.E. Ocean Blvd., Sewall’s
planning professional to determine what steps should be taken Artisans Guild, a 501 (c) (3) organization which was Point (Harbour Bay Shoppes), 10 a.m. to 6 p.m.
to implement these arrangements. created to nurture the production of fine art and craft, Wednesday to Saturday
• Address life insurance issues. If your spouse had a life increase awareness of local art, facilitate development and The Fifth Annual Martin County Open Studio Tour is
insurance policy, you’ll want to contact your insurance agent networking among working artists and create marketing scheduled for March 6 to 7, 2021. Visit www.MCOST.
for help in navigating the paperwork necessary to receive the venues for our members. org for information.
death benefit. Of course, some financial advisors also sell life Unfortunately, several artist members of the guild have Photo provided by Martin Artisans Guild
insurance within the context of your overall financial strategy, so, been adversely financially
if this is your situation, you’ll want to speak with your advisor impacted by COVID-19 this
about how to handle the insurance proceeds. year and fellow members
• Apply for Social Security benefits. If you are 60 or older, of the nonprofit are using
you may be entitled to Social Security survivor benefits, along their talents to benefit and
with a one-time death benefit. Contact your local Social Security subsidize their colleagues
office to stop the benefits your spouse received and apply for during these tough times.
the new ones for yourself. Twenty-six members of
• Change the name on financial accounts. If you and your Martin Artisans Guild are
spouse had jointly held accounts with “right of survivorship,” offering 35 original works
the assets will typically pass automatically to you, the surviving of art in pottery, jewelry,
spouse. However, for legal purposes, it’s still a good idea to glass work, sculpture,
retitle these assets in your name. This usually only requires filling photography, drawings
out some simple documents, which are available from your and paintings in a unique
financial institutions – bank, credit union, investment firm, etc. auction.
But you also may need to change the beneficiary designations Tickets are $20 each and
can be purchased online at
Martin Artisans Guild www.
Dating from page 7 mcost.org/chances-for-art or Martin Artisans Guild board of directors members Mallo Bisset, president; Eduardo Gomez,
at the following locations (a vice-president; Barbara Bucci, member-at-large; Lynn Morgan, member-at-large; Jane
Around Town Photos By Revolution Dating. sampling of the artwork can Lawton Baldridge, member-at-large; Laura Kay Whiticar Darvill, treasurer; Dot Galfond,
September 2020. be seen at all locations): secretary; with the works they donated to the raffle.

Teamwork Makes the Dreamwork! #FunIsOurMiddleName

When we could Speed Date!
#ThrowbackPhoto

Introducing another Mr. and
Mrs.! Joined 2018. Married
2020. #COVIDVows

Senior Dating Pros!
#ThenAndNow