I address common questions and concerns that arise before and after getting married, such as whether to change your name and how to update various accounts. I emphasize the importance of having open financial discussions before marriage to decide on joint or separate finances. I provide a detailed checklist, starting with the name change process at the Social Security Office, followed by updating banking information, credit cards, real estate titles, investment accounts, vehicles, insurance policies, and estate documents. I stress the importance of listing both spouses on insurance policies and updating beneficiaries. Although this process can be lengthy and complex, it's essential to make these changes to avoid future complications. Lastly, I highlight the importance of healthy financial conversations and ensuring both spouses are aligned, emphasizing the significance of joint decision-making for a harmonious financial life together.

Key Takeaways:

• Have transparent conversations about your financial situations and decide together on whether to merge or keep separate finances - or a mix of both..

• Begin the name change process at the Social Security Administration, then update your driver's license, passport, and other legal documents.

• Update names on credit cards and consider adding spouses as additional cardholders to streamline financial management.

• Discuss and decide on joint or separate ownership of real estate and investment accounts, updating titles and beneficiary information as needed.

• Ensure both spouses are listed on insurance policies, update beneficiaries, and revise estate planning documents like wills and power of attorney to reflect your new marital status.

Key Timestamps:

(00:00) - Introduction: Financial Checklist for Getting Married

(00:47) - Pre-Marriage Financial Conversations

(02:12) - Name Change Process

(02:54) - Banking Decisions

(03:30) - Credit Cards and Real Estate

(04:31) - Investments and Vehicles

(05:34) - Insurance and Beneficiaries

(06:23) - Estate Documents

(07:09) - Conclusion: Final Thoughts and Advice

(08:22) - Download the Ultimate Military Finance Checklist

Key Topics Discussed:

Erik Baskin, Baskin Financial Planning, BLUF, Bottom Line Up Front, The BLUF Finance Podcast, Military Money Manual, veteran finances, marriage, marital finances, name changing, estate planning, marriage planning, beneficiaries

More of Baskin Financial Planning:

Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be thinking about to clarify your journey to financial freedom.

Think you might need some financial help? ⁠⁠⁠⁠⁠Book an intro call with me to see if we would be a mutual fit.

Questions or comments, drop me a note at: erik@baskinfp.com

www.baskinfp.com/post/48