Along with photographs of an affair, found among papers left in the safe, she discovered her husband had left her in debt and sinking in financial quicksand.
Neither is what a newly widowed woman wants to deal with. But it's the unwelcome realities that the character played by Diane Keaton in the film Hampstead had thrust upon her. The movie is based on the real-life story of a hermit who was given title deeds to land he had lived on for over 12 years on Hampstead Heath, a large green space in North London. He chose to live a life of self-sufficiency off the grid, and ended up a millionaire by accident; the land he gained was worth a few.
The movie isn’t great, but it does bring up a huge issue through the horrors that Keaton's character goes through. While her character is fictitious, the problems it grapples with are not.
Eighty per cent of men die married (this is a US statistic). Ergo those at huge risk of living Keaton’s worries are women.
Widows: there are nearly 260 million globally and grief is just one of many emotions that overcome them.
As baby-boomers get closer to retirement age, preparing women for the likely loss of their partner is critical. Women of that generation married older men, and will live longer. Widowhood has financial consequences and brings with it financial decisions that must be made.
If you’re married, one of you will die first. If it’s you, the best thing you can do for your spouse is take away the money worry.
So today let’s look at a financial survival kit you can put together to lessen the blow:
• Start the conversation: talk through the financial knockon effect of either of you dying.
• Make sure you both know what assets, debt, investments you hold – individually and jointly.
• List all account numbers. Ensure details, contacts, and wills are up to date.
• Find out financial facts like: does death erase debt? What would you be liable for. And then do something about it. It could be that putting debt, assets, or any other financial tool in your, your partner’s or your joint names can mitigate huge financial headache when the time comes. When a spouse dies, life doesn’t stop. Bills still need paying, insurance policies still need to be active.
• List things that must be paid monthly, quarterly, annually. Focus on the monthly ones. There will be a lot of emotion to deal with, including grief, anger and despair. Have it set up so you can go on autopilot and keep these payments up to date. Everything else can wait a little longer because you probably won’t be in the clearest frame of mind.
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Read more:
Are you part of the repair revolution?
The Debt Panel: Unemployed real estate agent blames his Dh50,000 debt on UAE banks luring him in with 'dreams'
Money Clinic: How do I stop being the family ATM?
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• Do not make any irreversible decisions straight after the death. The newly bereaved are pulled in different directions – should they live with an adult child – sell up – stay put? Don’t make any of these decisions for at least six months.
• If you receive an insurance payout, sit on the money. Paying off the mortgage might seem a good idea, but it robs you of liquidity, and options, later on - should you need it. A common knee-jerk reaction is the need for financial security. Many a policy - things like an annuity - have been taken out in haste, only to be regretted later.
• If you’re tempted to do anything quickly with a significant chunk of your net worth, pay three different professionals for another opinion, just to be sure that you know what you’re in for.
• A widow’s budget and long-term planning needs will change. Here are some practical things to consider:
- Life insurance: Do you have it, is it enough?
- Children under 18: can their daily living expenses be met?
With sadness comes vulnerability, and there is nothing selfish about saying no, a lot, in the first few years after your loss.
Imagine being able to take as long as you need if you lose your partner - to just take care of yourself and deal with the emotional fallout. No nasty surprises of any sort. What a great way to be remembered.
Nima Abu Wardeh is a broadcast journalist, columnist and blogger. Share her journey on finding-nima.com
MATCH INFO
Euro 2020 qualifier
Ukraine 2 (Yaremchuk 06', Yarmolenko 27')
Portugal 1 (Ronaldo 72' pen)
COMPANY%20PROFILE
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
COMPANY%20PROFILE%20
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
COMPANY%20PROFILE
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
COMPANY%20PROFILE
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Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
'C'mon C'mon'
Director:Mike Mills
Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman
Rating: 4/5
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
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SERIES SCHEDULE
First Test, Galle International Stadium
July 26-30
Second Test, Sinhalese Sports Club Ground
August 3-7
Third Test, Pallekele International Stadium
August 12-16
First ODI, Rangiri Dambulla Stadium
August 20
Second ODI, Pallekele International Stadium
August 24
Third ODI, Pallekele International Stadium
August 27
Fourth ODI, R Premadasa Stadium
August 31
Fifth ODI, R Premadasa Stadium
September 3
T20, R Premadasa Stadium
September 6
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The%20Woman%20King%20
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Know your cyber adversaries
Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.
Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.
Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.
BAD%20BOYS%3A%20RIDE%20OR%20DIE
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RoboCop%3A%20Rogue%20City
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Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
Company%20Profile
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