Wedding Bells, Part 3 of 5
Posted by
Bruce Moore on Monday, November 17, 2008 at 2:53 PM
Categories:
Miscellaneous
OK, now that you are getting married, what about those accounts you already have? Even though you may be splitting up who pays the mortgage vs. who pays for food vs. utilities vs. gas and oil etc., you may want to have your spouse as a signer on your accounts in case you are in an accident or are otherwise incapacitated.
Updating your beneficiaries. If you elect to name your spouse as beneficiary of your employer-sponsored pension plans, IRAs and insurance policies, request and complete the required paperwork for beneficiary designation changes as soon as possible. Making these changes is a detail that many newlyweds overlook, and the oversight can be catastrophic for the surviving spouse if tragedy strikes.
Maintaining your own financial identity. When it comes to establishing credit, togetherness has its limits. A good way to keep your own credit rating is by maintaining a charge card in your name only. That way you are more likely to be able to get individual credit should you ever be in a situation where you need it.
Comments
Currently, there are no comments. Be the first to post one!
You must be logged in to post a comment. You can login here.