Page 11 - Hobe Sound Reflections - June '24

Hobe Sound, Page 11

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Financial Tips For Widows handled financial matters, you may need to get up to speed Review Your Estate Plans
The death of a spouse can certainly affect your family’s

quickly on what you have and what you owe. And if your
And Widowers spouse had provided a large amount of your household estate plans. So, it’s a good idea to review these plans to see
income, you will also need to determine what changes what changes, if any, need to be made. When conducting this
By Sally Sima Stahl you may need to make to your lifestyle. review, you’ll benefit from working with an estate-planning
Losing a spouse is Address Insurance Issues professional.
one of the most painful If you will receive a death benefit from your spouse’s Finally, keep in mind that you don’t have to go it alone
experiences anyone can insurance policy, what will you do with the money? It may during this difficult time. If you’re already working with a
have. Unfortunately, prove helpful in funding your own retirement or meeting financial professional, they can help. If you aren’t currently
widows and widowers have other financial goals. But you’ll also want to be clear about working with one, now might be the time to start. By looking
to deal with more than just what other beneficiaries, such as your children, might at your finances and your family situation holistically, a
the emotional trauma – they receive. And while you’re looking at insurance, you also financial professional can provide guidance that can help
also must consider a range might want to look at your own policies – do you need to ease the stress you are naturally feeling.
of financial issues. If you’ve change beneficiaries? Few events are as sad as losing a spouse. But when you
recently been widowed, Review Your Social Security Options feel ready, start taking the steps necessary to continue forward
what financial moves should If you are at least 60 and you were married at least nine on your life’s journey.
you consider? months, you may be entitled to Social Security survivor This article was written by Edward Jones for use by
For starters, don’t rush into any major decisions. If benefits. (If you remarry before age 60, you typically your local Edward Jones Financial Advisor, Edward Jones,
you’re still in the grieving process, you are unlikely to cannot receive survivor benefits, but you can reinstate Member SIPC.
be in the best shape to make significant choices affecting them if this subsequent marriage ends.) The amount of your Edward Jones is a licensed insurance producer in all states
your finances and your life. survivor’s benefits depends on your age and the age of your and Washington, D.C., through Edward D. Jones & Co., L.P.,
But once you feel ready to look at your situation deceased spouse. You can’t claim your deceased spouse’s and in California, New Mexico and Massachusetts through
objectively and make appropriate choices, consider the benefits along with your own retirement benefits, so if Edward Jones Insurance Agency of California, L.L.C.;
following steps. you qualify for survivor and retirement benefits, you’ll Edward Jones Insurance Agency of New Mexico, L.L.C.; and
Review Your Finances receive the larger amount. Depending on your situation, Edward Jones Insurance Agency of Massachusetts, L.L.C.
Look at your entire financial picture – your assets, you might come out ahead by delaying your retirement Edward Jones, its employees and financial advisors
investments, debts and income. If you and your spouse benefits, giving them the chance to grow, while you accept cannot provide tax advice. You should consult your
had communicated well about your finances, and you survivor benefits. For more details on receiving Social qualified tax advisor regarding your situation.
shared decisions, you hopefully won’t encounter any big Security benefits, visit the Social Security Administration’s Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
surprises. But if your spouse was the partner who mostly website at www.ssa.gov. 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
in Your coMMunitY

United Way Of Martin County Is area. The local board is responsible for recommending agencies • Conduct an annual accountant’s review if receiving $50,000
Now Accepting Applications For to receive these funds and any additional funds available under to $99,999 in EFSP funds
• Conduct annual audit, if expending $750,000 or

this phase of the program.
The Emergency Food And Shelter organizations chosen to receive these funds must: more in federal funds, in compliance with the Uniform
Under the terms of the grant from the National Board, local
Administrative Requirements, Cost Principles, and Audit
Program • Be nonprofit or an agency of government Requirements for Federal Awards at 2 CFR 200 of the Office
• Not be debarred or suspended from receiving federal of Management and Budget (Uniform Guidance)
United Way of Martin County is now accepting applications funding • Be providing services and using its other resources in the
for Phase 41 of the Emergency Food and Shelter Program (EFSP). • Have a checking account and sign up for EFT (cash area in which they are seeking funding
The federal funds are made available through the Department payments are not allowed) • Practice nondiscrimination (those agencies with a
of Homeland Security (DHS)/Federal Emergency Management • Have an accounting system or fiscal agent approved by the religious affiliation wishing to participate in the program
Agency under the Emergency Food and Shelter National Board local board must not refuse services to an applicant based on religion
Program. Martin County has been chosen to receive $24,736 to • Have a Federal Employer Identification Number (FEIN) or require attendance at religious services as a condition
supplement food and shelter programs in the county. • Use the UEI created in the System for Award Management of assistance, nor will such groups engage in any religious
A local board consisting of representatives from The Salvation (SAM.gov) proselytizing in any program receiving EFSP funds)
Army, Catholic Charities, faith-based organizations, consumers • Have a valid email address for program communication and • Have a voluntary board if private, not-for-profit
and local government will determine how the funds awarded to electronic signature processes • Involve homeless individuals and families, through
Martin County will be distributed among the emergency food • Conduct an independent annual audit if receiving $100,000 employment, volunteer programs, etc., in providing emergency
and shelter programs run by local service organizations in the or more in EFSP funds food and shelter services.
Public or private voluntary organizations interested in
applying for Emergency Food and Shelter Program funds
Are You Ready Hurricane? must contact United Way of Martin County, (772) 283-4800
for an application.

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