Tips for newlyweds
Tax class, name change and Co.: This checklist will help after the wedding
This checklist will help you keep an eye on the formalities after the wedding
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As is well known, the wedding day should be the most beautiful day of your life – but the stress starts right after that. Because if you tie the knot for life, you also have to clear a few bureaucratic hurdles. With our checklist you have all the to-do’s at a glance.
Before the wedding it can get stressful: photographers and DJs have to be booked, maybe a band should play. Hopefully the right dress has already been changed, and the dear relatives have all been invited. Now only the table decorations, the wedding ceremony, and, and, and…
Anyone who thinks that a quieter time will finally set in after the wedding is greatly mistaken. Because even after the lavish party, there is still a lot to be done. So that you don’t get bogged down, here is our ultimate list for newlyweds.
1. Names changed after marriage
The rings have been exchanged – and thus the question of the name has also been clarified. Most of the time, the bride and groom agree on a common surname – as a sign of togetherness. But this change of name also entails a lot of work, because many different bodies want to be informed about it.
All official IDs such as ID, passport, driver’s license (not mandatory), vehicle registration and social security card must be changed. But you must also send this information to the tax office, the employment agency, the contribution service (formerly GEZ) and other offices (if benefits are received). If you are still in training, you should inform your school or university. Otherwise, the change of name must also be communicated to the employer. All accounts must be converted (current account, money market account, savings contracts, pension funds, etc.) The name on the debit and credit card must also be changed. This also applies to the PayPal account.
If you live in your property, you must at least have the land register changed. Otherwise the landlord must be informed. The suppliers (electricity, water, gas, etc.) also need information about the name change.
All contractual partners must be informed of the new surname, i.e. mobile phone and Internet provider. Or the transport companies for the monthly pass. The sports club. But anyone who has a customer account on Amazon or Ebay will also change their name.
Most annoying item: Write to all insurance companies. Here is an overview:
- liability
- household items
- Statutory / private / company pension insurance
- car insurance
- Health insurance
- care insurance
- Life Insurance / Term Life Insurance
- disability insurance
- accident insurance
- supplementary dental insurance
- travel insurance
Important: You should leave the old name on the edge of the mailbox for a while, because it is quite possible that you will forget to inform someone.
2. Marriage: change tax class
If you get married, you have to take care of the tax class. Because with the marriage certificate comes the automatic change from tax class 1 to tax class 4. That is not necessarily lucrative. Whether it is worth switching depends on your income. If there is one high earner and one with significantly less income, the combination of tax class 3 and 5 could be worthwhile – in this case, the higher income is taxed significantly less. If both spouses earn roughly the same amount, they can remain in tax bracket 4. However, the spouse splitting lures a repayment from the tax office.
If only one spouse works, they automatically get tax class 3.
tax consultant or income tax assistance provide help in choosing the right tax class.
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3. Buy a house or apartment
Many couples also plan to buy a property when they get married. Practical: Instead of being checked individually to see whether you have enough capital and collateral, you are now checked together. Nevertheless, if you want to get good credit terms from the bank, you should have an equity ratio of at least 20 percent.
4. Account Power of Attorney
You don’t even want to think about the emergency after the wedding. Nevertheless, an account authorization should be issued that allows the partner access to the respective accounts. This simplifies the procedure if one of the spouses has an accident and cannot access his account.
5. Have joint health insurance
Marriage can also affect health insurance if the couple opts for family insurance – and one of the spouses is not working. This is especially worthwhile when there are children. If a partner is privately insured, the partner cannot be insured if he is unemployed.
6. Liability insurance and Co.
The couple can also save on other insurances after marriage. The partner can also be insured for personal liability, travel cancellation and legal expenses insurance.
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7. Apply for an exemption order
The capital gains tax is also due for savers. As a single, the savings allowance of 801 euros has so far been the important limit. As a married person, an exemption order from the bank can increase this amount to a total of 1602 euros – and be shared. If one partner achieves investment income of more than 1200 euros and the other only more than 400 euros, no taxes are due because you stay below the limit together. The good news: From 2023, the flat rate per capita is to be raised to 1,000 euros.
8. Must there be a marriage contract?
When it comes to marriage contracts, one quickly thinks of very rich celebrities who want to protect their assets. But such a contract can also be worthwhile for normal wedding couples. We have bundled all information about this here.