A Clear, Compassionate Step-by-Step Guide for Surviving Spouses

Losing a spouse is one of the most overwhelming experiences a person can face. In the middle of grief, shock, and emotional exhaustion, practical questions surface fast — especially around money.

One of the most common questions I hear is:

"My spouse passed away and had accounts at Fidelity. What do I do now?"

If that's you — or someone you're helping — take a breath. You don't need to have everything figured out today. This guide walks you through the exact next steps, calmly and clearly.

Step 1: Notify Fidelity as soon as you're able

The first call is simply to let Fidelity Investments know about the death. You are not making decisions yet — you're just opening a case.

Fidelity Estate / Transition Services Phone Number:

📞 800-544-0003

When you call, Fidelity will:

• Assign a case number

• Connect you with a dedicated estate specialist

• Explain what documents they'll need (nothing happens all at once)

💡 Tip: You can call even if you don't yet have death certificates or paperwork.

Step 2: Order certified death certificates

You'll need multiple certified copies — usually 10–15 — for financial institutions, insurance companies, and legal matters. Most funeral homes help order these for you.

Step 3: Understand how each account is titled

(This determines everything.)

Not all Fidelity accounts are treated the same. The way an account is titled controls how quickly — and how easily — assets transfer.

✔ Accounts with named beneficiaries

Examples:

• IRAs and Roth IRAs

• Brokerage accounts with "Transfer on Death (TOD)"

• 401(k)s

These accounts usually:

• Bypass probate

• Transfer directly to the beneficiary

• Require only a death certificate and claim form

✔ Joint accounts

If the account was held jointly with rights of survivorship:

• It typically transfers automatically to the surviving spouse

• Fidelity retitles the account in their name

⚠ Accounts with no beneficiary listed

These accounts:

• Flow into the estate

• May require probate or a small-estate affidavit

• Take longer and involve court paperwork

This is where Fidelity's estate team helps guide you.

Step 4: Pause before making retirement account decisions

If you're inheriting an IRA or retirement account, do not rush.

Surviving spouses often have multiple options, including:

• Rolling the account into their own IRA

• Keeping it as an inherited IRA

• Timing withdrawals to reduce taxes

The "right" answer depends on:

• Age

• Income

• Cash needs

• Tax brackets

• Future plans

👉 The biggest mistakes happen when decisions are made too fast.

Step 5: Pay attention to cost basis on investment accounts

Investment accounts typically receive a step-up in cost basis at the date of death. This can dramatically reduce future capital gains taxes.

Make sure Fidelity:

• Uses the correct date-of-death valuation

• Updates cost basis properly before any assets are sold

A Simple Checklist to Stay Grounded

• ☐ Notify Fidelity and get a case number

• ☐ Order death certificates

• ☐ Identify beneficiaries and account types

• ☐ Secure short-term cash needs

• ☐ Delay major financial decisions

• ☐ Ask for help — you do not have to do this alone

One Thing Every Surviving Spouse Needs to Hear

Nothing needs to be perfect right now.

The goal is safety, clarity, and time — not speed.

Financial decisions made in grief can have lifelong consequences. Taking things one step at a time is not weakness — it's wisdom.

Need help navigating this?

If you or someone you care about is walking through loss and feeling overwhelmed by financial and life logistics, guidance matters. A calm, experienced hand can make all the difference during this season.

You don't have to carry this alone.