June 22, 2008

Financial changes after Marriage

I've recently gotten married. Yay! Now that we're married there is a bit of paper work to do to update names and such.

Below is an After the Honeymoon checklist from CountryWeddings.com that I found which will help aid in the process

Name Change & Other Tasks

Change bank account names

Send out Change of Address Cards

Change wills and insurance policies

Change beneficiary information on retirement plans and investments

Verify life insurance amounts and change beneficiary
Change health and dental insurance plan information
Change car insurance and registration information

Request new Social Security card

Change driver's license name

Add name to utility bills

Change passport name

Re-register to vote

Change property title / mortgage name

Change tax records with your employer and accountant
Change credit card information
Change club membership information

Major items that I'll want to take care of in general priority order:
  1. Add spouse to health insurance at work - This is the #1 priority since we want to get her on my coverage as soon as possible.
  2. Shop around for car insurance policy - We'll combine our policy so that means canceling one or the other. Would also be a good time to shop around for good rates.
  3. Set up a joint bank account - We will have joint finances. So we'll get a joint account. It may also be a good time to switch banks for me.
  4. Get a Will - I know I should have one already but I don't. As a single person I wasn't that concerned. But now it is more important.
  5. Investigate additional life insurance - I get 2x my salary coverage from my employer. We'll probably want to add some to that.

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