Congratulations! You’ve tied the knot!
Now that you’ve said “I do,” it’s time to truly become partners in life. Marriage binds your lives together. The act of getting married, while very romantic, has immediate impacts on both your financial situation and legal matters. Read on for a few quick tips for what to do after you walk down the aisle.
Let’s begin with the first thing many couples do after their wedding festivities settle down: the name change. If you or your spouse are planning on taking a new name, do it prior to filling out any additional forms to avoid a major headache.
How To Change Your Name After You Get Married
- Obtain certified copies of your marriage certificate.
- Check with your local government offices to find out if you need to file anything with the court prior to your name change. For example, in some states, a judge must approve your name change.
- Visit your local Social Security office with your marriage certificate to change your Social Security card.
- Visit your local driver’s licensing office with your new Social Security card for a new driver’s license.
- Visit your local bank with your new driver’s license and marriage certificate to update your bank account.
- Once you’ve changed your social security card and driver’s license, everything else should be fairly easy.
Enroll in Engagement Ring Insurance
If you haven’t done so already, make sure you sign up for jewelry insurance for your engagement and wedding rings. It’s devastating to have jewelry that represents special moments in your life get damaged, lost or stolen, but having protection ensures you can repair or replace it. Many people think that fine jewelry and engagement rings will be covered by a generic home insurance policy, but this isn’t typically the case. Have your diamond jewelry appraised and find an insurance policy that best protects it at a reasonable price.
Change Your Health Insurance
You may choose to stay on separate health plans after marriage, or you can compare health coverage to decide if you’d rather move to one central health plan. Generally, in the United States, you can only change your health plan during open enrollment, which runs from November through February (exact dates vary by year). However, marriage is considered a “qualifying event,” which means you can change your health plan within 30 to 60 days of marriage (the exact timeframe depends on your plan). If you miss that deadline, you’ll have to wait until the next open enrollment period to make changes to your plan. It’s important to note that deductibles often double when another person is added to a plan. Additionally, even if you don’t decide to change plans, you’ll want to report your change in marital status, as well as your name change, to your insurer.
Sign Up For Life Insurance
Of all the things to think about in the buildup or following a wedding, life insurance is probably not at the top of your list. You might both be young and think that getting life insurance should wait for kids; however, right after you are married is one of the best times to get life insurance. Most of us try to “look our best” for our wedding, so it’s more than likely you will be in the best shape you will ever be in your life. Why not carry this good feeling over when you need to get a physical for life insurance? Plus, this will get you the best rate for a long term policy. The earlier you buy a policy and lock in life insurance rates, the more money you’ll save over the long run.
These are not the most romantic tasks to take care of when your honeymoon is over, but insurers may offer lower rates to married couples, who statistically show that they behave more cautiously than singles and file fewer claims. As with everything involving major life changes, be sure to do your research before making any major decisions; the great thing is that you now have a partner to help you!
Stayed tuned for part two of “You’re Married, What’s Next?” where we dive deeper into more ways to intertwine your lives after you tie the knot.