Life changes, who to notify

We know change is inevitable. We face a great deal of it in our lives and in the world around us. Often we are so swept up in the emotions of change that we forget there are professionals who can support us. In addition to calling us, the following chart below suggests who to notify when life changes occur. These professionals can help ensure you are optimizing resources, protecting yourself and your loved ones and help you actualize financial benefits.


Life Event

Accountant

Lawyer
Insurance Agent
(Health, Life, Property)
Bank/Investor/
Lender
Birth X X X (e.g. 529 acct)
Child leaves for college X X X
Child moves home after college X X
Child turns 26 X X
Starting a business X X X X
Starting a new job or unemployed X X
Selling a business/acquiring a business X X X
Buying a home X X X X
Moving/addition to your home X X X X
Marriage/Divorce X X X
Retirement X X X X
Death in your family X X X X
Receive an inheritance X X X X

Resources:

https://www.irs.gov/individuals/did-you-know-life-events-like-marriage-birth-and-divorce-may-have-a-significant-tax-impact

https://www.irs.gov/affordable-care-act/changes-in-circumstances-can-affect-your-premium-tax-credit