The loss of a spouse is a traumatic experience. Unfortunately, there are practical matters that need to be addressed almost immediately. Dealing with some of these issues ahead of time can help reduce this burden.

First, have your advisor review your family’s estate plan and wills. Discuss using revocable living trusts to help avoid the probate process, as budget cuts have made this process even more arduous. Trusts specify the deceased’s intended beneficiaries, therefore making the funds available immediately after death. Consider funeral pre-planning and write an ethical will, which passes down your values and beliefs to loved ones. A letter of instruction can also help those involved in settling your affairs.

Develop a list detailing the location of all important documents, including bank and brokerage statements, retirement plans, debts, real estate, tax returns, credit cards, online passwords, estate planning documents and insurance policies. Place this list and the contact information for attorneys, accountants, financial advisors and employer-benefits representatives in a safe deposit box that has both your and your spouse’s names on it.

You should also ensure that beneficiary information is correct on 401(k)s, IRAs, life insurance, annuities, etc., especially if the spouse was previously divorced. In regard to life insurance, rather than hold it in an individual’s name, consider establishing an irrevocable life insurance trust. This allows a spouse access to income/principal payments during his or her lifetime, but once death occurs, the proceeds pass to the next generation free of estate tax.

Finally, give careful consideration to your choice of an executor, as this may be a difficult job, depending on the complexity of the estate and the state in which you live.

After death, there are many issues to consider. Order at least five to ten copies of the death certificate since many institutions will require it. Contact all financial institutions to transfer joint accounts to an account in your name alone and to make sure any pertinent trusts are established. The proper account titling lets you continue receiving dividends and interest. Close accounts that are no longer needed.

Contact the Social Security Administration for information about survivor’s benefits. Make sure you cancel any upcoming appointments or trips your spouse may have scheduled.

If applicable, call the benefits administrator at your spouse’s company to inquire about company-sponsored life insurance, retirement plans, pension income and grace periods for health insurance. In some cases, you may be able to claim unpaid wages or bonuses. If your spouse had a 401(k) through work, or an IRA, consider rolling these funds into your own IRA to simplify investment management.

Finally, contact your life insurance agent. These professionals usually can help file your insurance claim. Although you may be offered a new policy, oftentimes that may not be appropriate, as you will want to choose a strategy that works in the context of your own full financial picture.

It is important for widows and widowers to have a competent advisor who can help them with immediate and long-term challenges and get them on their way toward financial independence. That advisor should coordinate with other tax and legal advisors to best serve the unique needs of each individual or family during this difficult time.

Craig Pastolove is a Financial Advisor with the Wealth Management division of Morgan Stanley in New York, NY. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley, Member SIPC www.sipc.org. Morgan Stanley Financial Advisor(s) engaged Worth to feature this profile. Craig Pastolove may only transact business in states where he is registered or excluded or exempted from registration. http://fa.morganstanleyindividual.com/excelsiorwealthmanagement. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Craig Pastolove is not registered or excluded or exempt from registration. The strategies and/or investments referenced may not be suitable for all investors. Financial Advisors do not provide tax or legal advice. Investors should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.