Whether you are a new bride or a bride-to-be, congratulations! If you thought your “To Do” lists would end with “I Do”…think again. You just have a different set of lists for all the things that need to be considered, decided and acted upon. And these lists won’t be nearly as much fun, but if left undone can be costly or very problematic. Here’s a list to get you started:
Address and/or Name Change – Notify
| Post Office | Employer | Insurance |
| IRS | Banks | State Department of Revenue |
| Creditors | Investments | Professional Advisors |
| Memberships | School | Social Security |
| Driver’s License | Subscriptions | Professional Credentials |
| Social Media | Family/Friends | Software & Online Accounts |
Personal Finances and Legal – Update
| Bank Account Ownership | Credit Cards | Beneficiary – Insurance |
| Real Estate Ownership | Motor Vehicles | Beneficiary – Retirement Accts |
| Wills & Estate Planning | Credit Bureau | Contracts, Deeds, Loans |
Taxes – Planning
Tax Projection for year of marriage AND for full year following marriage
Update federal & state withholding for year of marriage AND January 1 following your marriage
Depending upon when your marriage occurs, you need to do tax planning for the year of your wedding and the full year following your marriage. Because your marital status changes for tax purposes during the calendar year, you tax situation will be different than if you were married on January 1. Tax planning for both years are important and you shouldn’t assume they will the same. Planning will allow you to make updates to your payroll withholding for both tax periods and not have any surprises when it is time to file your tax returns.
It is great to have tax planning done prior to beginning your wedding plans so you can include tax considerations, as part of your financial plans. I know very few brides-to-be who include this on their wedding plan agenda, so be sure it is done as soon as you return from your honeymoon.
Enjoy your new life!
Related articles
- Tax Implications of Getting Married (turbotax.intuit.com)
