All of the Financial Loose Ends You Need to Tie Up Before Your Wedding

Budget, Relationships
Handling Financials Before Wedding

Photo: Getty Images

Alright, it's time for one of the least fun parts of wedding planning: Sorting out your joint finances! Whether or not you decide to sign a prenuptial agreement, there are still aspects of your union that need to be made official. It would be wise to sort out your wills and finances pre-"I do" to avoid any disasters down the line. Here, what exactly you need to arrange before you become a Mr. and Mrs.

First thing's first, you need to get your beneficiaries in order. That means everything from your insurance policies and retirement plan payouts need to be re-configured (this is, of course, with the assumption that the bride and groom want to make each other one another's beneficiaries). You should talk to your insurance company and payroll department to figure out which forms are necessary to make these changes. You will also need to adjust your wills to outline exactly who gets what now that you have a new husband or wife to make sure should something terrible happens, there's no dispute over property and money. And, last but certainly not least, you'll need to decide how you want to manage your bank accounts. This is a choice that's purely based on the couple's wishes. If you want to keep your separate accounts but open a joint one, you should arrange that pre-wedding. If you do choose to maintain separate accounts, but the bride is changing her name, she'll need to make sure she fills out the necessary paperwork for that as well.

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