Dear Dave,

My husband died four weeks ago. He was 52 years old and had a heart attack. We always lived on a budget and were careful with our money, so we were debt-free when he passed away. He had a 401(k) and an IRA worth about $500,000 along with $200,000 in life insurance. He always handled most of the money, so I don’t know what to do about all this. --Nancy

Dear Nancy,

I am so sorry you have to go through this. Fifty-two is way too young an age at which to leave this world. I’m sure the suddenness of it all has your head spinning, too. Right now, you need to take some time to absorb what’s happened. You’ve experienced a devastating loss, and you should never make major life decisions when you’re hurting or your emotions are out of whack.

For now, I want you to roll the 401(k) and IRA into IRAs in your name. Then, just let them sit there. I’d also park the insurance money in a Certificate of Deposit for about six months. Take out enough to live on, but leave the rest alone for a while. Give yourself some space and time to cry until your brain gets used to things and can plug back into everyday life again. Then, after some time has passed, you can start thinking about what you want to do in the years ahead. You can also educate yourself in finance and how to handle your money once your mind has had some time to readjust.

Don’t try to be super woman right now. I know you miss him a lot, but always remember that he loved you enough to make sure you’d be in great shape financially if something like this happened. God bless you, Nancy. -—Dave