We no longer support this browser. Using a supported browser will provide a better experience.

Please update your browser.

Close browser message

Wealth Planning

How to prepare your finances for marriage


As you prepare for your wedding, have open conversations with your soon-to-be spouse about your financial goals.

Wedding dates, guest lists, honeymoons…the list of choices when planning to get married can get overwhelming pretty quickly. But take the time to think about your financial plans before you get married to help set you on the right path.

Should I sign a prenup?

A prenuptial agreement sets out each prospective spouse’s rights and responsibilities if one spouse dies or the couple gets divorced. The agreement provides a roadmap for dividing and distributing assets instead of relying on state law, which can change from time to time. A prenuptial agreement can also be a valuable tool for planning since it can override presumptions about what is deemed community property, quasi-community property, separate property, and marital property. A prenuptial agreement can also prevent one spouse from being responsible for premarital debts of the other in the event of death or divorce.

A prenuptial agreement is most often used either when one spouse or one spouse’s family is significantly wealthier than the other, or when one family owns a business and wants to ensure that only family members are able to own and manage the business.

Negotiate a prenuptial agreement early

If you know that you plan to ask your fiance to sign a prenuptial agreement, do it as soon as possible. Some courts have ruled that certain prenuptial agreements were entered into under duress because they were signed and negotiated too close to the wedding date. Therefore, the courts decided these agreements were unenforceable.

Examine employee benefits

Make sure you know how marriage will affect your employee benefits. If you and your spouse are working, would it be less expensive if you both kept your respective employers’ health insurance plans? Or would you save more if one of you switched to the other’s plan? Does one plan offer significantly better coverage? Marriage almost always qualifies as a life event that allows you to modify your benefits elections outside of the annual open enrollment period.

Review beneficiary designations and estate planning documents

Often, before you’re married, you will have named your parents or siblings as beneficiary of accounts like IRAs, 401(k)s, life insurance, and transfer on death (TOD) and payable on death (POD) accounts. Make sure to review these designations and accounts and, if appropriate, switch your beneficiary to your new spouse—after the wedding, of course. Also make sure you update your estate planning documents, including wills, health care designations, powers of attorneys, and others, to reflect your new situation.

If you plan to change your name

Make sure you apply for new identification and change registrations, including driver’s license, passport, airline frequent flyer programs, TSA Precheck, etc. There are certain companies that will perform the name-change process on your behalf for a fee.

Communication is key

Starting your marriage out with open lines of communication will help you better face future challenges together. Having early, honest conversations about your financial goals, family plans and financial responsibilities will help to strengthen your marriage in the years to come.

Talk to a J.P. Morgan advisor about the different considerations.

 

 

 

IMPORTANT INFORMATION
This material is for information purposes only, and may inform you of certain products and services offered by J.P. Morgan’s wealth management businesses, part of JPMorgan Chase & Co. (“JPM”). The views and strategies described in the material may not be suitable for all investors and are subject to investment risks. Please read all Important Information.


Wealth Planning

Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck

To learn more about J. P. Morgan’s investment business, including our accounts, products and services, as well as our relationship with you, please review our  J.P. Morgan Securities LLC Form CRS and  Guide to Investment Services and Brokerage Products.

This website is for informational purposes only, and not an offer, recommendation or solicitation of any product, strategy service or transaction. Any views, strategies or products discussed on this site may not be appropriate or suitable for all individuals and are subject to risks. Prior to making any investment or financial decisions, an investor should seek individualized advice from a personal financial, legal, tax and other professional advisors that take into account all of the particular facts and circumstances of an investor's own situation. 

This website provides information about the brokerage and investment advisory services provided by J.P. Morgan Securities LLC (“JPMS”). When JPMS acts as a broker-dealer, a client's relationship with us and our duties to the client will be different in some important ways than a client's relationship with us and our duties to the client when we are acting as an investment advisor. A client should carefully read the agreements and disclosures received (including our Form ADV disclosure brochure, if and when applicable) in connection with our provision of services for important information about the capacity in which we will be acting.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JP MORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED

Equal Housing Opportunity logo

J.P. Morgan Chase Bank N.A., Member FDIC Not a commitment to lend. All extensions of credit are subject to credit approval 

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment advisor, member FINRA and SIPC. Annuities are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

Please read additional Important Information in conjunction with these pages.