What's In A Name Change? Mostly Paperwork

NEW YORK (MarketWatch) -- Maybe you're a newly married woman who wants to share a surname with your husband or perhaps you just want to pull a Muhammad Ali (formerly Cassius Clay). Either way, changing your name legally isn't really all that difficult -- but it does require a lot of paperwork to establish that new identity. One misstep and you could be putting your finances in danger.

Each state has its own procedures for name changing. One thing is standard, though -- the presence of a filing fee, which can cost anywhere from $13 to $230. You'll also likely have to get a court order and publish a legal notice announcing the change. Check your state's court system online to find out if forms are available on the Web or visit your county courthouse. You may have to undergo fingerprints and background checks, as well.

Getting the legal change isn't really the hard part, however -- it's notifying all the places that need to know. You should start with federal and state government agencies. Consumer Reports suggests getting six or more copies of your name-change decree so that you can present them as proof of the change. Make sure they're certified copies, which usually cost about $10 each.

You'll have to contact these government agencies:

Department of Motor Vehicles (You'll need a new driver's license.)

Social Security office

U.S. Department of State (You'll need a new passport)

Then, go to the businesses you deal with and get the names changed on official paperwork. Tell your employer so your paychecks, withholding and W-2 forms are updated.

Your bank will probably need to re-issue you cards. Be sure to cover all bases with your bank -- new signatures on safe-deposit boxes, loans, IRAs, passbooks, etc. Here are other entities or businesses that will need to be notified:

Credit-card companies

Voter registration

Insurance carriers

Wills

Brokerage accounts

Stocks and bonds

Mutual funds

Car registration

Deeds or mortgages

Medical providers

Utilities

Frequent-flier programs

Colleges and alumni associations

State licensing boards

By Marshall Loeb