When you're newly married, it can be difficult to keep track of what is happening in the world. You've just said your vows, and now you're on a honeymoon! It might feel like there's no time for anything else besides being with each other- but not so fast! Some important things need to happen after the wedding. These four topics will help new couples get off on the right foot as they start their lives together.
Get your name changed
First, you need to make sure your name is changed! Whether you or your spouse have changed your surname, or you’ve opted to go double-barrelled, you’ll need to contact many companies to let them know. Most importantly you’ll want your official documents updates like your passport and ID, then your banking, bills and other accounts. You may want to get an extra paper copy of your marriage certificate to send off when required as proof of the marriage and name change.
If you're having trouble figuring out how to go about this or what specific documents you need, then it's best to speak with the UK Deed Poll Office about the process.
Discuss your will with your spouse
Next, you want to make sure that both your wills are in order. Even if neither of you has any assets or money right now- it's important to remember that one day this may change! It would help to discuss who will inherit whatever property and belongings you might accumulate over the years with your spouse. This is often a tough conversation as most people don't like to think about their own mortality, but it's a critical talk to have.
You can also use this time to discuss any other end-of-life arrangements you may want to make. For example, do you want to be cremated or buried? Would you like your spouse to be the executor of your will?
Consider a life policy
While you're discussing your will, it might be a good time to consider getting life insurance. This is especially important if one or both of you have children. Then, if something were to happen to either one of you, the other parent would need money to take care of the kids and bills.
A life policy can also provide some peace of mind for you. It gives both spouses peace of mind to know that the family would be financially secure even if something were to happen.
Remember- life insurance policies are very different from wills or trusts! You should speak with a financial professional before deciding what type of policy is right for your family and how much coverage you should get.
Discuss your shared budget
Getting married is a huge milestone in your life. Discussing your financial situation with your spouse is a sure way of understanding the income and expenses of your new household.
It's important to develop a budget that you both feel comfortable with and can stick to. This may involve setting aside money each month for groceries, rent, utilities, and debt repayment. You might also want to consider having separate bank accounts or credit cards as well.
Creating a budget is not an easy task, but it's a significant one! By sitting down and discussing your finances as a couple, you're setting yourselves up for financial success.
In conclusion, there are a few important things that new couples should do as soon as they're married and these points are listed above, but not limited to these. With solid communication, a strong relationship, and some planning- you'll be on the right track for a happy and prosperous future together.