The joy of becoming a parent is hard to match. It is a time filled with excitement as well as many new responsibilities.
One of the tasks that should be an essential part of your list as a new parent is that of thinking about your comprehensive estate plan, especially drafting a will. Even if retirement and end-of-life issues are literally decades away, planning is important to safeguard the best interests of your child.
Why new parents need wills
Many people do not consider legal matters such as wills until they become elderly or retire and begin thinking about planning for after they die. However, drafting a will at a younger age is important if you now have a child or children. If anything should happen to you resulting in your incapacitation or death, you need to have a legal document in place that specifies who you wish to care for your child. You can designate a legal guardian who would care for your child until he or she becomes a legal adult.
First steps for creating a will
A qualified estate planning attorney can assist you not only in drafting a will, but also with other related estate planning matters such as asset transfers and other estate administration issues. Your attorney will guide you step by step in the process of crafting a will that takes into account the fact that you are now a new parent, and allow you to express your wishes for your child or children in the event of your death.
No one wants to think about end-of-life issues, but now that you are a new parent, your responsibility to your child or children means you have to prepare for any unexpected events. Having a will and an estate plan is an important step to ensure peace of mind for you and your family.