There are some things every newlywed expects to do after the wedding—changing a name, updating insurance, opening a joint account. But one of the most important financial tasks often gets skipped entirely: updating your beneficiaries.
Unlike most account changes, beneficiary designations don't update automatically when you get married. That means your retirement accounts, life insurance policies, and investment accounts may still list an ex, a parent, or someone else entirely—regardless of your new marital status. The Vow Vault includes a dedicated section to help you track exactly these kinds of critical post-wedding updates.
Why Beneficiary Updates Matter So Much
A beneficiary designation is a legal instruction that tells a financial institution who receives your assets when you pass away. In most cases, this designation overrides your will. That means even if your will says everything goes to your spouse, an outdated beneficiary form could direct those funds elsewhere.
It's a simple update—but the consequences of skipping it can be significant.
Where to Check Your Beneficiaries
401(k) and Employer Retirement Plans
Log into your employer's benefits portal or contact your HR department. You'll need to submit a new beneficiary form—most plans allow you to designate both a primary and a contingent beneficiary.
IRA Accounts
Contact your IRA custodian (your bank, brokerage, or financial institution) directly. Each account has its own beneficiary form.
Life Insurance Policies
Reach out to your insurance provider or log into your policy portal. Update both primary and contingent beneficiaries on every policy you hold.
Brokerage and Investment Accounts
Many investment accounts offer a Transfer on Death (TOD) designation. Check with your brokerage to update or add one.
Bank Accounts
Some checking and savings accounts allow a Payable on Death (POD) designation. Ask your bank if this option is available and whether you'd like to add your spouse.
A Few Things to Keep in Mind
- You can name both a primary beneficiary (first in line) and a contingent beneficiary (backup if the primary can't receive the funds).
- If you have children or plan to, consider how that affects your designations over time.
- Review beneficiaries after any major life event—not just marriage, but also the birth of a child, a divorce, or the death of a named beneficiary.
Don't Let It Fall Through the Cracks
Updating beneficiaries takes less than an hour, but it's easy to put off when life is busy. The best time to do it is now, while it's top of mind.
The Vow Vault gives you one organized place to track your beneficiary updates alongside your other post-wedding tasks—so nothing important gets missed. Shop The Vow Vault →
