Getting married or recently tied the knot? Congratulations: You're joining 4 million1 other Americans this year in making the leap to a life together. These questions before marriage and checklists for after getting married can help cement your future.
What to talk about before marriage:
- Debt: How much do you and your partner each have? What's your plan for paying it off?
- Credit ratings: Know your credit scores. Once married, each of your credit ratings will affect your joint ability to obtain loans for cars and a home.
- The status of your money: What do each of you make? Are you comfortable sharing money? If not, who will be responsible for paying bills?
- The future of your money: What are your expectations about career and work?
- Children: Do you agree on having or not having children? If so, what are your plans for careers and childcare?
- Retirement: What are your dreams for post-work life?
- Name: Will one of you change your name?
Things to do before marriage:
- Obtain a marriage license, usually from a county clerk in the state in which you want to be married, as well as pay a fee.
- Get a blood test; some states still require one.
- Determine if a prenuptial agreement is right for you — particularly if you have substantial assets.
- Show proof of divorce or annulment of a previous marriage, or death of a previous spouse.
- Wait. Some states have waiting periods from the time of the license issuance until the permissible time of the ceremony.2
What to do after you get married:
- Update your paperwork, including all retirement account and life insurance beneficiaries and name changes.
- Look at health insurance. Does one spouse's work plan make more sense for your whole family?
- Review auto, home or rental insurance; add life if you don't have it. You may be eligible to receive a discount for adding additional policies.
- Create or update a will. Establish your spouse as your beneficiary.
- Consider additional documents, such as a Power of Attorney or Living Will.
How State Farm Can Help This Go Right:
Your agent can answer questions about combining insurance policies with your spouse.
Footnotes
- https://www.cdc.gov/nchs/nvss/marriage_divorce_tables.htm
- http://marriage.about.com/od/marriagelicenses/qt/licensebasics.htm
Disclosures
State Farm™ (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates) is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites hyperlinked from this page. State Farm has no discretion to alter, update, or control the content on the hyperlinked, third party site. Access to third party sites is at the user's own risk, is being provided for informational purposes only and is not a solicitation to buy or sell any of the products which may be referenced on such third party sites.
