Why Writing a Will is the First Thing You Should Do as a New Parent
Why All New Parents Should Have a Will
Many new parents don’t think about creating their will because they are busy adjusting to life with a baby. However, having a will becomes even more important as soon as you have a child and should be prioritized.
Even if you are very healthy and live a low-risk life, you never know when an unexpected tragedy could occur. Having a will means that you have a plan in place regarding guardianship and care for your children.
Choosing a Guardian
It is important to choose a guardian who you trust with your children’s wellbeing. Think about who you want making decisions for your kids and who you believe is responsible enough for their emotional, physical, and intellectual upbringing. Talk to your selected guardian about how you would want your children raised and cared for in the event of your death, and make sure that they are willing and able to take on the responsibility. You can choose to appoint a couple as joint guardians, but if you do this it is important to include a plan in your will as to what will happen to your children should the couple separate.
Questions to ask yourself when choosing a guardian:
- Does my child already have a relationship with this person?
- Where does this person live?
- Do I want my children to have to move to a different city/school district?
- Does this person have experience with children?
- What do I want to happen to my children if the couple breaks up? (if appointing a couple as guardians)
What Should New Parents Include in Their Will?
It is important to make sure that your minor children will be cared for completely in the event that you were to die before they came of age. In order to leave your children with the best possible care, your will should leave them with an appointed guardian and a trust set up to take care of their financial needs. For more details on including minors in your will, check out our guide.
If you are new parents looking to prepare your will, the lawyers at Munro & Crawford are here to help. We can assist you in drafting a will that adequately provides for your children and appoints a guardian of your choosing. We can also help you with will planning for minor children to ensure that they are financially protected in the event of your death.
