August 22, 2019
After all of the wedding planning — the guest list, the cake, the dresses, the location — you finally did it! You and your partner have tied the knot and you’re ready to enjoy in your happily ever after story. Before you ride off into the sunset, don’t forget about these important responsibilities post-wedding.
After the big day, talk with your spouse about your insurance plans. Work with an independent agent to receive quotes to combine car insurance with proper coverage at an appropriate price. Remember: whoever cancels coverage should have an effective date the day the previous policy expires. Also, let your carrier know you are married — your rates may decrease.
If your spouse is moving into a home you own, you should list him or her on the policy.
Whether you or your partner are changing last names, there are several steps you need to take post-wedding (and post-honeymoon!). Request several certified copies of your marriage license, as you’ll need these when you change other documentation. Visit the Social Security Administration’s website and fill out the SS-5 application for a new Social Security card. Then, visit your local Department of Motor Vehicles or AAA, if you have a membership, to change the name on your driver’s license. You’ll need your old license, a certified copy of your marriage license and your new social security card. Next, change the name listed on your bank accounts. You’ll need your new driver’s license and a certified copy of your marriage license. Then, you can request a new debit card, credit card, and checks. Finally, if you or your spouse have a passport with the maiden name, you’ll need to apply for a new one. The process to change the name on the passport depends on the situation. Visit the U.S. Department of State’s website here for a list of scenarios.
Money can be a major source of stress for new couples, but it doesn’t have to be if you plan ahead and communicate. Talk with your partner about how you will be sharing financial responsibilities, such as the mortgage, utilities and grocery shopping. Additionally, if you or your partner enter the marriage with significant assets such as trust funds or investment accounts, initiate an open conversation. You should talk about the names listed on the assets as well.
Also, don’t forget to write your will. Without a will, you and your partner’s assets could be held in probate court and be inaccessible for a period of time.