Financial steps to take in the first year after losing your partner
Published 6 July 2026
First of all, I am sorry you are reading this.
If you have found this page, you are probably in the middle of one of the hardest periods of your life. And somewhere alongside the grief, the practical weight of everything that needs to be sorted is beginning to make itself known.
I want you to know something before we go any further. Most of the financial decisions that feel urgent right now can wait. The ones that genuinely cannot, I can walk you through. And when you are ready to look at the bigger picture, I will still be here.
This guide is not a to-do list. It is a companion for when you need to understand what is ahead of you, without anyone pushing you to move faster than feels right.
I work with women in England who are navigating exactly this. Some have never managed finances on their own before. Others have always been financially confident but are now dealing with a completely new picture. Wherever you are starting from, there is a way through this.
The first few weeks: what genuinely cannot wait
There are a small number of financial tasks that do need to happen relatively soon after bereavement. These are practical and administrative rather than big decisions, and most can be handled with the support of a solicitor or financial adviser.
Registering the death and notifying institutions
Before most financial matters can progress, you will need the death certificate. You will typically need several certified copies, as banks, pension providers and insurers will each ask for one.
Once you have those, you will need to notify your partner's bank and any joint account providers, pension providers for both workplace and private pensions, the Department for Work and Pensions to stop any state benefits paid to your partner and check what you may now be entitled to, HMRC to update tax records, and any life insurance providers.
Many organisations can now be notified through the government's Tell Us Once service, which helps reduce the number of separate calls you need to make at an already exhausting time.
Understanding what you may be entitled to
Your partner's pension may provide a survivor's pension or a lump sum. The rules vary depending on the type of pension, whether it was a defined benefit scheme, a defined contribution pot, or the state pension, and each works quite differently.
In the months that follow: decisions that can wait, but not forever
Once the immediate paperwork is underway, the focus shifts to understanding your new financial position as a whole. There is no rush to make any major decisions at this stage. The goal is simply to get a clearer picture of where you are.
Seeing the full financial picture
This means looking at what you now own, what income you have coming in, and what your regular outgoings look like. For many women, this is the first time they have seen everything in one place.
A financial adviser can help you do this in a way that feels manageable. We are not making decisions at this stage. We are simply making sure you have the information you need, when you feel ready for it.
The family home
If the property was jointly owned, it will typically pass to you automatically. If it was in your partner's name alone or tenants in common, it will form part of the estate and go through probate.
I would gently encourage you not to feel pressured into deciding what to do with the family home in the first year. Well-meaning family members and financial worries can create a sense of urgency that is not always warranted. In most cases, it is better to give yourself time before making a decision of that size.
Your protection cover
If your partner held life insurance, those policies should be claimed as part of the early administration. Beyond that, it is worth reviewing your own protection cover to make sure it still reflects your circumstances now that you are on your own.
What happens to the pensions when your partner passes away
This is one of the areas I am asked about most often, and one of the least understood. The answer depends largely on the type of pension your partner held and whether you were married or legal partners.
Where you have been named on your partner’s beneficiary nomination, the scheme normally pays benefits directly, outside the will and without needing to wait for a grant of probate.
Defined benefit pensions
Also known as final salary pensions, these typically pay a percentage of your partner's pension income to you if you are the surviving spouse or legal partner. The amount is usually around 50%, but it varies between schemes. Contact the pension provider directly to find out what you are entitled to and when payments will begin.
Defined contribution pensions
These work quite differently. If your partner had nominated you as the beneficiary, the pension pot may pass to you outside of the estate, which can have significant tax advantages. If no nomination was in place, the pension trustees have discretion over where the funds go, which is why keeping beneficiary nominations up to date matters so much.
Your own pension
Losing a partner often changes the shape of your retirement. You may find yourself thinking about when you want to stop working, how much income you will need, and whether your current pension contributions are still right for the future you are now planning. These are all things worth revisiting with a financial adviser when you feel ready.
Inheritance tax: what you need to understand
Assets passing between spouses and legal partners are generally exempt from inheritance tax. However, the picture becomes more complex when assets eventually pass to children or other beneficiaries, or when the combined estate is substantial.
The nil-rate band, which is the threshold before inheritance tax applies, is currently £325,000 per person. If they left their assets to you, then the nil rate band can usually be transferred to your estate, which effectively doubles the threshold available when you pass away.
If you are not married, then your partner would use up the £325,000 to pass their estate to you, assuming that is what is in their will, and this cannot be transferred.
If your partner owned property, the residence nil-rate band of £175,000 may provide additional relief when the family home passes to direct descendants (i.e. your children), if you have any.
Bear in mind that tax rules change and depend on your circumstances. For example, the government has announced plans to reform the treatment of agricultural and business assets, and to bring pension pots within the scope of inheritance tax from 2027. Taking professional advice now gives you the opportunity to plan with the current rules while building in flexibility for what lies ahead.
When to speak to a financial adviser
There is no right time. Some women want to speak to someone in the first few weeks, just to understand what they are dealing with. Others prefer to let the dust settle before taking a longer view. Both are completely valid.
What I would say is that the decisions made in the first year after losing a partner can have a long-lasting effect on your financial security. Not because they are set in stone, but because early planning gives you more options and more breathing room later on.
I take a calm, unhurried approach to working with widows in England. There is no pressure to have things figured out. My role is to help you understand your position clearly, at a pace that works for you, and to put a plan in place that supports the life you want to build from here.
If you would like to have a conversation about where you are and what might help, I would be glad to hear from you.
Book a 15-minute call: herfinancialplanning.co.uk/book-initial-15min-call
Frequently asked questions
How soon should I speak to a financial adviser after losing a partner?
Whenever you feel ready. Some women find it helpful to have early guidance so they do not feel alone with the administrative decisions. Others prefer to wait a few months before looking at the bigger picture. Either
is fine. What matters is that you get support before making any major irreversible decisions.
Do I automatically inherit my partner's pension?
Not always. It depends on whether you were married, the type of pension and whether a beneficiary nomination was in place. Defined benefit schemes usually pay a survivor's pension. Defined contribution pots depend on the scheme rules and the nomination. A financial adviser can help you establish exactly what you are entitled to.
Will I have to pay inheritance tax?
Assets passing between spouses are generally exempt. However, when assets pass to others, inheritance tax may apply depending on the size of the estate. The rules are specific to your circumstances, so it is worth getting advice rather than assuming.
What if I have never managed money on my own before?
Many of the women I work with start from exactly this point. My approach is to begin by helping you understand your finances without jargon or pressure. Confidence grows from clarity, and we go at your pace.
Can I change my own financial plans while I am still grieving?
Yes, and in many ways the first year is a good time to gently review your own pension, protection and long-term plans. Not to make big decisions, but to make sure everything still reflects where you are now and where you want to go.
SJP approved 06/07/2026
Other resources you may be interested in:
