Things to discuss when getting married

Spring is on it’s way, which means we’re approaching the annual wedding season. For many engaged couples, much of the pre-wedding discussion centers around the details of the wedding itself. How many guests to invite? The venue? A DJ or a live band? All of these are important questions, but what questions should engaged couples be asking themselves before the wedding to best prepare themselves for after the wedding?

1) Bank accounts. Coming into the wedding, it’s likely that each party has their own bank account or accounts. After the wedding, some couples choose to merge their bank accounts while others choose to keep them separate. There’s no right or wrong answer, but it is something worth discussing.

2) Insurance. Similar to the bank accounts, each spouse likely has their own insurance. This could mean health insurance, life insurance and other types of insurance. In some cases, in can make sense for the two people to bundle up under the same coverage provider for certain types of insurance or for things like life insurance, it make may sense to increase coverage. Got questions on insurance? Give us a call!

3) Taxes. Typically there is tax benefits for married couples filing jointly. However, in certain cases, that may not necessarily be the case. Consult a local tax professional to find out what filing type best fits your situation!

4) Pets. Do you both have pets? Is each person ok with the other person’s fluffy or spot? Talking ahead of time about pets (particularly if you’re not already living together) can be important to make sure that there is no dealing with allergies or other preferences when you move in together.

5) Assets. If one of the people in the marriage owns a home, it can be a good idea to put the spouse’s name on the home as well. This allows both parties to, legally, contribute to decisions about the home.

6) Debts. The average amount of student debt is growing all the time. If you or your spouse have student (or other) debt left, have you talked about how to pay it off. Some couples use both their incomes to pay off the debt, while others take the route of having the person in debt being solely responsible for paying it.

Have you and your fiance talked about these items? If you need help, particularly on point number 2, give us a call!

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