A recent UBS Wealth Management USA report listed several key reasons why a significant percentage of women delay handling long-term financial decisions.

UBS' recently published white paper, "Own your worth: How women can break the cycle of abdication and take control of their wealth," found that over half of married women leave investment and financial decision-making in the hands of their husbands. 

According to the report, the reason women are shying away from financial management is that 85 percent of the married women surveyed believe their husbands are smarter when it comes to financial matters and investments. The report also showed that most women, 80 percent, are just fine with their roles in financial decisions, however research shows eight out of 10 women will be alone, divorced or widowed.

The UBS report also states that over half of divorcees and widows face financial problems such as outdated wills and debts, not to mention the need for long-term care. 

"The twin forces of longer life expectancies and high rates of divorce have produced a sobering likelihood, that more women will end up alone and solely responsible for their financial well-being," UBS global client strategy officer Paula Polito said in a statement. "What's most concerning is that women are more educated, successful and outspoken than ever, yet 60 percent continue to abdicate important financial decisions that affect their future," she said.