How to prepare for the ‘survivor’s penalty’ before a spouse passes

Many older women outlive their spouses and may not anticipate higher future taxes after such a loss. Financial experts suggest proactive measures to navigate this challenge. With American women having significantly higher life expectancy than men, understanding and planning for potential tax implications becomes crucial. In 2021, life expectancy at birth was 73.5 years for males compared to 79.3 years for females, emphasizing the importance of thoughtful financial preparation.

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Source Article: https://www.cnbc.com/2023/11/11/how-to-prepare-for-the-survivors-penalty-before-a-spouse-passes.html

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