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Q&A: Update wills to prepare for baby?

What changes should I make to my will in order to prepare for baby?

Re: What changes should I make to my will in order to prepare for baby?

The Bump Expert

Your will should include every desire you have for your child, including those little details stored in your daydreams, such as private school or a lavish wedding. Remember, this document serves as the instructions you’ll leave behind and unless they’re all in writing, your wishes are anyone’s guess.

To fund all these wishes, you’ll need to name your child as the beneficiary to your assets. But until the kid is 18 years old, you must also appoint a trustee to manage the money, such as a relative or close friend.

Separately, you’ll also have to choose someone to care for the child each day, and good news: the financial and emotional caretakers can -- but do not have to -- be two different people.

Finally, state laws vary so, make sure your will is legal and in-line with regulations by consulting with a trust and estates lawyer.

Brett Graff

Q&A: Update wills to prepare for baby?

Be sure to set up a trust. There is brief mention of this in the answer. If you leave everything to your kid(s) and they are under 18 the state will assume the money and 'distribute' it as they see fit. (administration fee's and tonz of money can rack up) Please set up a trust, that's the most important part of this message. If you don't your kids could end up with nothing and the state everything.

karatechrissy |

Q&A: Update wills to prepare for baby?

The problem my husband and I have is that we would want the person who raises our children to be someone who has the same views as us, and although we have family and friends that has SOME of the same views, no one is just like us. What a terribly difficult decision!

jen_jupiter |

Q&A: Update wills to prepare for baby?

You should prepare yourself to give your child a bright future..Garnier BB Cream

dustinscott |

Q&A: Update wills to prepare for baby?

As I found out from Houston Business Lawyer, making a last will and testament is a way to ensure that your wishes are met after you die. These documents express your desires, and as such can be created, changed or revoked at any time, for any reason or for no reason at all.

denisstu |