Suze Orman has 'one crucial piece of advice' when a partner dies: Do nothing

1. Essential legal documents. A will, a living revocable trust with an incapacity clause, an advance directive and durable power of attorney for healthcare, and a durable power of attorney for finances. According to the 2025 Wills and Estate Planning Study by Caring.com, 56% of Americans don’t have a will or trust — and only 24% of respondents reported having a will at all, down from 33% in 2022.

2. Shared financial literacy. Orman is direct about this: in retirement, it is “100% not okay” for one spouse to handle all the finances while the other remains in the dark. The surviving spouse needs to know where accounts are, why decisions were made and what the overall plan looks like.

3. Beneficiary verification. Every account, including bank accounts, retirement accounts and insurance policies, needs the correct beneficiary named. Outdated or missing beneficiary designations are one of the most common and costly estate planning mistakes, often overriding even a carefully written will, CNBC reports.

4. Social Security strategy. When one spouse dies, the survivor receives only one benefit — their own, or their deceased spouse’s, whichever is higher. Delaying the higher earner’s claim maximizes the benefit that will eventually support the surviving spouse alone. Claiming too early locks in a permanently reduced payment.

The emotional logic of waiting

Orman’s case for inaction is prudent planning with grief in mind. When the emotional weight of loss is at its heaviest, cognitive bandwidth suffers. That’s precisely when scammers apply pressure and when well-intentioned but uninformed decisions get made.

If the planning has been done, she notes, the surviving spouse won’t need to make any big decisions at all. And that, Orman says, is “going to be such a gift.”