Your Future Married Money Checklist
Estate planning, wills, life insurance, and more
Welcome to The First Years of Marriage Newsletter! We talk about the conversations, challenges, and changes that begin once the honeymoon ends. Advice from experts, mistakes from me (Jen Glantz), and things you’re going to want to know as you continue to ask yourself this question - “I’m married, so now what?”
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Your Future Married Money Checklist
I recently chatted with a financial advisor who shared some money things I should consider doing now that I’m married.
While I’m slowly working through this list, I figured I’d share the list with you:
Estate Planning:
One of the very first things this advisor mentioned was to get started doing estate planning with my partner.
What does that mean?
An estate plan is a set of legal documents that present your wishes for the distribution of property, guardianship of minor children, and even healthcare decisions
Who can do this with you / for you?
You can hire an estate planning attorney. Price out different ones to find someone in your budget and have a free consultation.
Will:
Even though it’s not something I want to think about, he also mentioned making a will, which is similar to an estate plan but different.
Simply put, an estate plan is a broader plan of action for your assets that may apply during your life as well as after your death. A will, on the other hand, dictates where your assets will go after you die, who will be the guardian of your children and more.
You can hire a lawyer or make one for free on a place like this.
Beneficiary:
One thing I have started to do is make Adam a beneficiary on my assets (retirement accounts, savings accounts, etc.). That way, if anything happens to me, he gets access to that cash ASAP. When you don’t do this and just put that in your will, it can take longer for the person to get the money.
Go through each asset of yours and make your spouse the beneficiary (if you want them to be).
Life Insurance:
Deep on my to-do list is to research more about life insurance. Again, not something I want to think about but the financial advisor said it’s worth looking into now - since we are young and healthy - we can get a less expensive policy.
Your death benefit should be at least 10 to 30 times your income and be large enough to cover your debts and future expenses, like the cost of raising a child.
This Week’s Love List:
The best wine deals - ever: If you adore drinking wine, check this out. The best wine available at the best prices.
A Kardashian Vegas wedding: What do you think about Kourt and Travis tying the knot in Vegas?
Spring cleaning essentials: Doing a lot of Spring cleaning this month with these items.
The Newlywed Card Game: Want to play the game? Grab one before it sells out.
Love you (for as long as we both shall live),
Jen Glantz
Jen Glantz is a whimsical entrepreneur, 3x author, podcast host, and all-around pizza-obsessed goofball.
Here's what she is currently working on:
The Newlywed Card Game // Books // You're Not Getting Any Younger Podcast
Bridesmaid for Hire // Odd Jobs Newsletter // The First Years of Marriage Newsletter
The Monday Pick-Me-Up Newsletter //Jen & Juice Business & Life Coaching // Company Workshops