She Said Yes! Now What?
Your palms were sweating and your heart was pounding, but you managed to get down on one knee and ask her to marry you. You'll never forget that moment when she said "yes" and everything changed forever.
We all know couples who get engaged over the holidays. It's important to remember you aren't just planning a wedding you're planning a new life together. In addition to planning a ceremony and a honeymoon, you'll need to discuss a number of legal and financial changes for the road ahead.
Your local Shelter agent can help you review your current insurance plans. They'll work with you to update your auto and home coverage. They'll also help you change the beneficiaries of your life insurance. Make a list of your savings accounts and any IRAs or 401K plans so that those beneficiaries can be changed as well. You will also want to update or create wills and a health directive for each of you.
If you plan to change your last name, you'll need to get a new Social Security card from the Social Security Administration. This will not only be helpful when you change jobs, it will also notify the administration of the change so they can accurately distribute your retirement funds in the future. You'll also have to obtain a new driver's license.
As a couple, sit down and determine your budget. Discuss who will be in charge of managing financial affairs and paying monthly bills. Decide whether you will maintain separate accounts or have a joint account and who and how much each person will contribute.
If you're combining households or considering purchasing a new home together, consult with your Shelter agent. You should adjust policy limits to accommodate your combined belongings and assets. If you currently have separate insurance providers for your auto, home, or life policies, consider switching to only one agent. At Shelter, we offer discounts for certain policy combinations. Your local Shelter agent can help you review your current discount options and help you switch carriers if needed.
It is a busy time, so take time to relax and have some fun too. Since being married can be challenging, it's important to remember the wonderful feelings you both had when she said "yes."