Congratulations! on taking the first step towards a happy family life. Here are few financial tips that you should keep in mind once you get back from your honeymoon.

First and foremost get a marriage certificate made if it was not a court registered marriage.
Optional: Change the wife’s name on all legal documents including bank accounts, PAN card, passport etc.
Make sure to visit your respective banks and include your respective spouses name as joint account holder on all the accounts. Either or survivor is the best suggested operative mode for your accounts. These jointly held accounts are helpful for making joint investments and applying for joint loans.
Review all your insurance policies, PPF, PF, Bank accounts, Mutual funds etc. and get the nominations changed to your wife. All future investments should be on joint name.
Open a bank locker to deposit jewels that normally comes as a perk of getting married:-) . If you already have a bank locker make sure you change the operation mode to ether or survivor.
Plan to get a will made, lot of templates already on internet. A will may not be registered but is recommended.
Plan for a home of your own if you do not own a home already.
Make sure you take property on joint name and apply for home loans jointly.
Many states offer concession on stamp duty if the property is in joint name with a women make use of it. This also takes care of inheritance issues later.
A joint home loan also helps in getting income tax concessions if both the partners are working. That way both can split and claim tax break on home loan interest. Maximum of Rs. 1.5 lakh break can be taken by both of you individually. your Loan eligibility also increases when you club income.
It is seen young unmarried male and female normally have a undisciplined financial lifestyle. You have taken up the responsibility of another individual for life now. plan your spends and budget for all expenses.

Request an appointment with your financial planner and have a through review of your financial requirements. All of insurance, loans and retirement plans need a revisit. if earning spouse’s income also needs to be considered to get a better financial plan.

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