Life Transition Checklist: What to Do When You’re Suddenly in Charge of the Finances

Life transitions affect your head your heart and your financial world all at once. Whether the change comes through divorce, widowhood, a medical event, a career shift, or simply stepping into the role of financial decision maker for the first time the weight of responsibility can feel overwhelming.

You can navigate this.
And you do not have to navigate it alone.

Below is a practical checklist grounded in real financial planning steps I walk through with clients during major life transitions.

1. Gather and organize every document and login

You cannot build a plan until you understand the full picture.

Collect:
• Banking and savings account statements
• Retirement accounts IRA 401k 403b 457 TSP or pension details
• Life insurance policies
• Mortgage documents deeds titles
• Credit card statements and loan balances
• Pay stubs or income award letters
• Tax returns
• Beneficiary listings
• Social Security estimates
• Trust documents or wills

Many women discover accounts they forgot existed or never had full access to. This step brings clarity and direction.

2. Stabilize your income

Know exactly what is coming in and what may be ending.

If divorced:
• Confirm child support or alimony
• Update W4 withholding
• Review employer benefits as an individual

If widowed:
• Identify survivor benefits
• Apply for Social Security widow benefits
• Contact pension providers

If employment has changed:
• Understand severance details
• Apply for unemployment if applicable
• Evaluate new employer benefits

Income stability is an essential first step.

3. Reevaluate every bill and subscription

Transitions reveal recurring expenses that may no longer serve your lifestyle.

Review:
• Monthly non negotiables
• Annual renewals
• Debt payments
• Insurance premiums
• Discretionary categories

Adjusting these numbers reduces stress and restores control.

4. Update legal and insurance documents

Life changes require updated protection.

Check:
• Beneficiary designations
• Life insurance coverage
• Property and casualty policies
• Wills and trusts
• Powers of attorney and healthcare directives
• Titles on homes vehicles and accounts

Most long-term problems stem from outdated documents. This step prevents future complications.

5. Build a supportive professional team

Transition seasons require guidance.

Your team may include
• A financial advisor who works with women in transition
• A CPA
• An estate planning attorney
• An insurance professional

Choose people who educate without judgment and communicate clearly.

6. Create a short-term plan for the next 90 days

This gives you room to breathe before making long-term decisions.

Focus on
• Paying essential bills
• Setting up automatic payments
• Rebuilding an emergency fund
• Closing unnecessary accounts
• Staying aware of tax implications
• Avoiding major investment or real estate decisions until emotions settle

Short-term stability leads to long term confidence.

7. Build a long-term plan you can trust

Once stability returns, we can build the future.

Include
• A revised investment strategy
• Updated retirement planning
• Beneficiary reviews
• Tax efficiency planning
• Long term care considerations
• Lifestyle planning for your new chapter

This creates a plan that supports your independence and long-term security.

You can move through this season with clarity confidence control when you have the right structure and guidance. Stepping into financial leadership during a major life transition is never simple, but it is absolutely possible. Every small step you take brings more clarity and more confidence. You do not have to rebuild everything overnight and you do not have to figure it out on your own.

When you have a clear checklist and a trusted guide, the overwhelm starts to fade. You begin to see what is in your control and what your next move should be. You start feeling less reactive and more steady. That steadiness becomes momentum. That momentum becomes confidence.

If you are in a season of transition and want support creating a plan that protects your future and reflects your goals, I would love to help you move forward with clarity, confidence and control.

You deserve a financial plan that supports the woman you are becoming.

Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser. Insurance products and services are offered and sold through Kingsview Trust and Insurance Services (“KTI”), by individually licensed and appointed insurance agents. KWM and KTI are subsidiaries of Kingsview Partners. KWM is an investment adviser registered with the Securities and Exchange Commission (“SEC”).