A before and after marriage checklist
Getting married or recently tied the knot? Let’s go over some items to discuss before and after your “I do’s.”
In 2023, over 2 million couples were married in the U.S. If marriage is on the horizon for you, these helpful pre- and post-marriage tips may help you and your partner get off to a strong start.
Things to do before your marriage
Finances in marriage
- Budgeting. Create and discuss a budget that includes both monthly and non-monthly expenses.
- Does the higher earner get to spend more?
- Do personal expenses come out of a monthly allotment?
- Will you spend out of a joint account?
- Do you have to answer to each other for expenses?
- Is there a specific dollar amount that requires a discussion prior to purchase?
- Financial goals. What are your shared short and long-term financial goals? These could range from building an emergency fund to saving up for a home together.
- Spending habits. Are you and your partner savers or spenders? It could be helpful to discuss how finances played a role in each other's upbringings.
- Debt. How much debt do you and your partner each have? What's your plan for paying off debt?
- Financial advisor. Hiring a financial advisor could help you understand where you stand with your assets, review your goals and adjust them over time to align with your evolving situation.
- Credit ratings. It's good to know your credit score and what a good credit score is. Once married, each of your credit ratings will affect your joint ability to obtain loans for cars and a home. If one of you has a lower score than desired, we have tips to help improve your credit score.
- The status of your money. How much do each of you make? Are you comfortable sharing money? If not, who will be responsible for paying bills?
- The future of your money. How much are you expecting to make in your career in the long term?
- Savings. How much will you have for savings? Experts suggest saving three to six months of expenses in an emergency fund.
- Risk tolerance. Discuss your views on financial risk tolerance and determine how that will affect future investments.
- Manage bank accounts. Decide if you will merge to a joint account, keep separate individual accounts or keep your accounts mixed under a trust or entity.
Personal preparations
- Children. Do you agree on having or not having children? If so, what are your plans for careers and childcare?
- Retirement. What are your dreams for post-work life? What type of retirement plan works for you?
- Premarital counseling. Discuss whether or not premarital counseling is right for you and your partner.
- Prenuptial agreement. This can be particularly applicable if one or both of you have substantial assets.
- Show proof of divorce or annulment of a previous marriage, or death of a previous spouse if applicable. This may be necessary for your license depending on your situation.
- Obtain and pay the fee for a marriage license, usually from a county clerk in the state in which you want to be married. Depending on your state, the marriage license may be good for 30 days or up to a year.
- Wait. Some states have waiting periods from the time the license is issued to the ceremony.
- Name. Will one of you change your last name? If so, consider the timing. If you are planning to travel internationally, be aware that a passport with your new name will take some time to arrive. There's no deadline for your name change.
To-dos after you say "I do"
- Update identification, including your driver's license and Social Security card, and then notify places that have your pre-marital information on file.
- Update your paperwork including all retirement accounts, life insurance beneficiaries and name changes.
- Look at health insurance. Does one spouse's work plan make more sense for your family?
- Review insurance such as auto, home or renters insurance; you might also want to add life insurance if you don't have it. You may be eligible to receive a discount for adding additional policies.
- Create or update a will. Establish your spouse as your beneficiary.
- Consider additional documents to change after getting married, such as a Power of Attorney or living will.
Your State Farm® agent can help you navigate the changes and help with your insurance planning needs.
