Things to do after saying “I Do”: Changing important documents
If you are planning to change your last name after you get married, don’t forget to make all the necessary name changes on your important documents. Advise your financial institutions (such as banks and insurance companies) that your marital status has changed so that they can update your records. It’s important to review all your different types of insurance policies, including life, accident, health benefits, automobile and home to make sure they reflect your changed status. For example you may wish to update your beneficiary designations on your registered products (RRSPs) and insurance policies and include your spouse as a dependent in various health benefit insurance plans. Further, for added protection, you might want to consider having Wills prepared for you and your spouse as you build your wealth and life together.
Changing your bank accounts
Now that you’re a couple, you may decide to continue to have separate accounts, consolidate into a joint account, or a combination of both. Some husbands and wives, particularly those who both work outside the home, like to keep separate personal accounts for spending and hold a joint chequing account for household bills and a joint savings account for emergencies. It’s one way for each of you to retain some spending freedom and still cover your shared monthly expenses, but it isn’t thrifty if your bank charges you a hefty fee to maintain each account.
If you do decide to open a joint account for day-to-day banking, CIBC offers the Unlimited Chequing Account. It lets you bank as much as you want, without limits, for one flat monthly fee and no monthly balance requirement (additional fees will apply on any withdrawals at non-CIBC bank machines). For more information, talk to your CIBC advisor, visit your nearest CIBC branch, call 1 800 465-CIBC (2422), or visit http://www.cibc.com.
----------------
About The Author
News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web.
News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.
