Comprehensive Guide to Financial and Administrative Tasks for Newly Married Couples

Navigate the complexities of merging finances and administrative tasks after marriage with this comprehensive guide. From communication strategies to administrative checklists, financial planning, credit and debt management, retirement options, and other benefits, equip yourself with essential knowledge and tools for a successful financial future together.

• Financial planning
• Marriage tasks
• Administrative duties
• Credit management
• Retirement options

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1. TC 7 Marriage Internal

2. Agenda Communication Administrative tasks Financial planning Insurance Estate planning and taxes Wrap up and resources Internal

3. Communication Discuss with your new spouse Current financial situation Financial goals Spending Saving and investing Financial assessments and handouts My Rating as a Money Manager Handout Financial Values Handout Complete independently and compare results with spouse My Rating As a Money Manager and Financial Values Handouts Available Internal

4. Administrative Tasks Documents Marriage certificate Name change updates Store documents in a safe place DEERS Update marital status Military dependent IDs Changes to pay Check Payslip for correct pay and allowances Overpayments Marriage Member Checklist Available Internal

5. Financial Planning Spending Plan Worksheet Housing and transportation Emergency fund Banking Paying bills Spending Plan Worksheet, Major Purchases, and 5 Rules of Buying a House Handouts Available Internal

6. Credit and Debt Protect yourself from identity theft Understanding credit Credit reports Credit scores Managing debt Debt reduction Rules Seek assistance New Credit 10% Types of Credit 10% Length of Credit History 15% Payment History 35% Amounts Owed 30% Understanding Credit, Military Consumer Protection, Servicemembers Civil Relief Act, and Sources of Help for Military Consumers Handouts Available Internal

7. Retirement Military retirement systems Retirement savings goals Thrift Savings Plan (TSP) Additional retirement savings options Civilian employer plans for non-military spouse Spousal Roth or Traditional IRAs Review and update beneficiaries Military Retirement and Thrift Savings Plan Handouts Available Internal

8. Other Benefits Survivor Benefits Education Benefits Military Death Gratuity Survivor Benefit Plan (SBP) Dependency and Indemnity Compensation (DIC) Tuition Assistance GI Bill Benefits Income-Based Repayment Plan Survivor Benefits Overview, Education Benefits & Savings, Paying off Student Loans Handouts Available Internal

9. Health and Dental Insurance Enroll new family members through DEERS 90 days/120 days OCONUS Active Duty TRICARE Reserve TRICARE Reserve Select Alternatives Coordination of benefits with TRICARE and civilian insurance plan Coverage through civilian employment Affordable Care Act Enroll in dental coverage TRICARE Overview Handout Available Internal

10. Property Insurance Review and update your current insurance policies Auto Add new spouse Add additional vehicle(s) Property (homeowners/renters) Combine policies High-value items Liability claims Internal

11. Life Insurance Servicemembers Group Life Insurance (SGLI) Update beneficiary Family Servicemembers Group Life Insurance (FSGLI) Enroll spouse Children automatically covered when registered with DEERS Private life insurance Review coverage and update beneficiaries Term vs. permanent policies Internal

12. Life Insurance Needs Liabilities (debts and obligations) Income (amount X numbers of years needed) + Final expenses Education and other goals + + Subtract current coverage and assets Your Total Need Internal

13. Estate Planning Review and update important documents Will Power of attorney Living will Medical directives Trusts Asset titling Home of record/residency considerations Visit your Legal Service Office for assistance Estate Planning Handout Available Internal

14. Taxes Review your new tax situation Federal and state tax withholding Tax withholding estimator (IRS.gov) Visit Direct Access Residency issues Military Spouse Residency Relief Act (MSRRA) Veterans Benefits and Transitions Act of 2018 CG SUPRT Free tax software and filing Professional assistance Internal

15. Summary Congratulations on your marriage! Let s recap what you learned: Communication Administrative tasks Financial planning Insurance Estate planning and taxes Internal

16. Resources Sea Legs Publication Unit Ombudsman Pre-marital and Marriage Counseling Checklist and Handouts Financial Education and Support Command Financial Specialists (CFS) Personal Financial Managers (PFM) Health, Safety and Work-Life (HSWL) Regional Practice CG SUPRT Coast Guard Mutual Assistance (CGMA) Financial Literacy Mobile Apps Coast Guard Work-Life mobile app DoD FINRED Sen$e mobile app Internal

17. Thank You! The appearance of U.S. Department of Homeland Security (DHS) visual information does not imply or constitute DHS endorsement. Internal