| Written by Veronica Rolfes, on 23-04-2007 02:47 |
What to do at Work When Getting Married
Between “yes” and “I do,” there's planning and check lists galore. The dress, the cake, the reception, the W4... Yes, the W4. A Cincy Chic editor tells you what you need to have on your "to-do" list at work before you say "I do."
The W4, also known as your Federal Tax Form, it usually is followed
with, “Do I put 1 or 0?” Sound familiar now? This is just one of the
several tasks you need to take care of with your employer when getting
married. So often women get wrapped up in the fun and frills of
planning a wedding, the only legal document they think about is the
marriage license. In your race to the alter, remember to add these
important items to your “to-do” list for the office:
#1: BENEFICIARIES
Dan Veit, director of human resources with the Habegger Corporation,
says that this, along with health insurance, should be the first two
things you change when getting married. Like many single people,
parents, siblings or other extended family are assigned beneficiaries,
so it is important to make necessary changes before getting married.
Veit says that beneficiary documents can be internal, or outside your
company, so make sure to check all possible roads. Examples of
documents that typically have assigned beneficiaries are:
- Life Insurance
- Accidental Death
- 401K
- Outside Individual Retirement Accounts (IRA’s)
#2: INSURANCES
- WHO - When deciding on if the bride or groom should carry the
insurance, Veit states that “each person should asses their company’s
medical plan to determine which has the best coverage and is the most
economical for you.” In most cases, it is cheaper for the two of you to
go on one plan rather than carry two single plans, especially if there
are children involved.
- WHAT - Be sure to check dental and vision, as well as other plans
that are best for family coverage. Many companies are beginning to
offer a variety of plans to choose from that best suite your personal
needs, as well as coverage for all sorts of family types. Veit says to
keep in mind that just because one of you carries the health insurance,
doesn’t mean that the same person has to carry dental or vision. Once
again, assess which coverage is best for your new family.
-
WHERE - Check with your HR department on where resources and tools
are for policy research. Many companies are making their health
insurance plans available online. Policy details and guidelines are
often available right at your finger tips, so plan a night to sit down
together and go over everything.
-
WHEN - Veit reminds us that marriage is considered a “qualifying
event” to add or drop your medical coverage. This means you can you
make the needed changes at any given time, not just when open
enrollment comes around. If you don’t get to make the necessary changes
before the wedding, you still have time. According to Veit, the window
of opportunity is typically within 30 days of the date of your marriage.
-
WHY - Veit stresses that health insurance and beneficiaries should
be taken care of first. Depending on when your company or carrier
allows you to change, you should try to get this done before the
wedding. The real life stories of honeymoon horrors are out there —
falling off cruise liners, murders in foreign countries, accidents on
the way to the reception hall. One episode of Oprah should cover it.
Emergencies can arise at any given time, so it is important to make
sure you and your new loved one is taken care of.
#3 TAX FORMS
Surprisingly, tax forms aren’t as time sensitive as beneficiaries and
health insurance, and can usually be filled out after the honeymoon.
Don’t wait too long or you might forget, and you can possibly miss out
on paying less!
W4: Federal Tax Form
W4 forms can be obtained, and modified at any time, from your payroll
or HR department. The simple part is changing your status from “single”
to “married." The tricky part is the "dependents" issue. Veit says it
varies depending on your individual tax basis, and to look at both of
your incomes combined. He suggests getting the help of a tax preparer.
They can help determine the number of exemptions and dependents that
are best for the two of you. Typically, both husband and wife change to
“married” withholding status, and in most cases, utilize the number of
exemptions when children are involved.
State Tax Withholding
When changing your W4 status, remember to change your state withholding
as well. Most people use the same information that they used for the
W4. As with the Federal Tax Form, the State Tax Withholding can be
obtained from your payroll or HR department.
#4: OTHER POLICIES
When getting married, Veit says, people should consider all
beneficiaries and policies. Be sure to look at not only life insurance
and accidental death, but also short and long term disability. Also,
check out benefits, policies and investments outside of your company.
As stated before, find something that works for both of you and any
children that might be involved.
#5: THE SMALL THINGS
As women, giving up our last name or hyphenating adds a little extra
work to the already mounding pile. Don’t forget about the small things
around the office such as:
- Company e-mail address - If your email contains your last name,
change it accordingly. Contact technical support or the appropriate
department to make the changes. Check to make sure that e-mails sent to
your old address can be forwarded to your new one, and it might be a
good idea to e-mail your contacts so they are aware of the change.
- Signature Change - Your signature on things such as e-mail
closures, stamps, payroll, automatic sign-offs, etc. should be changed
to reflect your new name.
- Contact information - Without wasting paper, replace business
cards, letterhead or any other pre-printed document with the correct
contact name. Even if you aren’t ready to order anything, still change
your template or contact the distributor to make sure changes are in
effect. Don’t forget about the company directory and voicemail.
Check with your company’s HR department for their individual policies.
They might have a different timeline on when things need to be filed.
Then, when the wedding is over, start enjoying the other benefits of
being married.
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