Financial preparations for spouse can brighten every Valentine's Day

Valentine’s Day is almost here. And while it’s certainly fun to give and receive chocolates and roses, why not go a little deeper this year? Specifically, if you are married, consider using this commemoration of love as a starting point for taking care of your spouse in the future — even if you’re not part of it.

Actually, both you and your spouse could designate Valentine’s Day as the beginning of your joint efforts to provide financial security for the surviving spouse when one of you is gone. Your strategy should involve at least these three key elements:

• Understanding your...