Moving is a hassle, whether it's across town or across the country. But the process can be improved by prioritizing needs and working through each step until you've accomplished your goal. No matter where your move takes you, Edward Jones is here to help. Contact your financial advisor today for additional insights and helpful tools to make sure you remain on track toward your financial goals.
Before moving day, make sure you've set aside all the important papers you'll need, such as marriage certificates or divorce decrees, financial statements, birth certificates and Social Security cards, and keep them with you. Fill out a change of address form at USPS.com or your local post office, and make sure your new address is noted on credit card accounts, subscriptions and IRS records.
Before you move, your financial advisor might recommend you review your portfolio to ensure it still aligns with your goals and go over any tax implications for your investments, as they can vary by state. Also, make sure to talk with your current or future employer's benefits department about your employer-sponsored retirement plan. That way you can understand your options. Your tax professional might need to weigh in on issues such as moving and job search expenses, capital gains on a home sale and any change in your income bracket.
Unless you're moving a short distance, you'll need a new doctor or dentist and, if changing states, will have to get a new driver's license and vehicle registration.
If you need to open a new bank account, make sure you transfer any funds from your old bank and close that account. Since your earnings might be changing, you should update your monthly budget or create a new one.
If you're changing jobs, consider your individual or new employer-sponsored insurance options. This may include life, health and disability insurance. You also should ask your private insurance provider about coverage for your cars, any items you have in storage and your residence to make sure you're covered during your move. Check with your financial advisor about any insurance policies you already have to make sure they still apply to your change in circumstances. Sometimes, more or less insurance is necessary when you move someplace new.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.