Building Your Life Together: Essential Tasks for Newly Weds – Congratulations on your nuptials! No doubt that you and your partner are still riding the high of your incredible wedding day – which we hope went without a hitch! As a newly married couple, you’re probably looking forward to your honeymoon, or maybe you’re already back from your dream destination and you’re looking forward to planning your life together.
Whatever stage of newly wedded bliss you’re at, it’s always a good idea to take a closer look at the admin side of things and make sure you have all your legal documents and couple goals aligned. This starts by setting a strong foundation for your life together by completing a set of administrative and legal steps.
In this post, we’ll explore some of the essential tasks that newly married couples should undertake together as they embark on this new stage in their lives – read on to find out more.
Explore Your Life Insurance Options
Discussing what happens to your loved ones after you die probably isn’t the kind of conversation you expect newlyweds to have! Nevertheless, it’s an important one that should take place as soon as possible.
Having a life insurance policy in place means that should you or your partner pass away then there will be a substantial payout from the policy, ensuring whoever is left behind isn’t left to deal with the financial fallout of the others’ death. You can make a start on this process and compare life insurance rates online via a reputable comparison site.
Life insurance covers all kinds of scenarios including deaths caused by serious illnesses, accidental death, and even an early payout in the event of a terminal illness where life expectancy drops dramatically.
Update Your Names
Depending on who has changed their name to what, you’re going to need to spend some time going through all your formal documents to get your name changed. This means everything from your driving license to your passport, bills and utilities, credit cards, insurance, bank accounts, doctors and dentists, store cards and other personal accounts will need to be updated. This could be a long process – but seeing your new name on official documentation is pretty exciting!
Have A Chat About Your Financial Accounts
To ensure your financial goals are aligned it’s a good time to sit down and chat about your financial accounts. You can take the opportunity to set out a budget and consider opening a joint bank account if you haven’t already and if this is something you want to do. Do you have any saving goals in mind? Now is the time to bring them to the table and start planning your future and explore how you’ll handle bills and other financial responsibilities.
If one of you is moving home, then you’ll need to update your address as well as your new marital status! This means getting in touch with your employer, doctors, and hospitals and also letting friends and family know!
As you enter the next part of your life together, it makes sense to build a strong foundation to work on as a couple. Start with these simple tasks and good luck!