Welcoming a new baby changes everything—including how you think about the future. That’s why estate planning for new parents is essential. Between feedings, diaper changes, and adjusting to your new normal, it can feel overwhelming to add “estate planning” to your to-do list.
But putting basic estate planning documents in place is one of the most loving, practical gifts you can give your child. A will (and, in many cases, a trust) helps protect your child if something happens to you, clarifies your wishes, and gives your family a roadmap during a hard time.
Here are five key things every new parent should know about wills.
1. Choosing a Guardian May Be the Most Important Decision You Make
If you pass away while your child is still a minor, a judge will need to decide who raises them.
- If you have no will: The court will choose a guardian based on state law and its view of your child’s “best interests.” The judge does not know your family dynamics, your values, or your wishes.
- If you have a will: You can nominate the person (or people) you trust to step into your parenting role. While the judge has the final say, your nomination carries significant weight and is usually followed unless there is a serious problem.
Your will is your chance to say:
- Who shares your values and parenting style
- Who your child feels safe and connected with
- Who is realistically able—emotionally, financially, and geographically—to take on the role
If you do nothing, you give up that voice. Remember that estate planning for new parents is essential to keep your voice.
2. Your Personal Representative (also known as executor) Needs to Be Someone You Trust
A will does more than name a guardian. It also lets you choose personal representative (known as executor in some states) to handle the legal and financial parts of settling your affairs.
Your personal representative is responsible for:
- Gathering your accounts and property
- Paying final bills, taxes, and valid debts
- Working with your attorney and other advisors
- Making sure your child (or your child’s trust) receives what you intended
This person should be:
- Organized and reliable
- Able to communicate with family members under stress
- Comfortable working with professionals and paperwork
If you do not have a will, state law decides who has priority to serve. That may be someone you would not have chosen for this role.
3. Beneficiary Designations Can Override Your Will
Many new parents are surprised to learn that certain accounts do not follow the will at all. Well, it’s important to note that comprehensive estate planning for new parents is essential.
The following typically pass by beneficiary designation, not by what your will says:
- Life insurance
- Retirement accounts (401(k), IRA, TSP, etc.)
- Some bank and investment accounts
- Some annuities
If your beneficiary form says one thing and your will says another, the beneficiary form wins.
Example: If your bank account still lists your parents as beneficiaries, but your will leaves everything to your child, the bank account will go to your parents—not your child.
As a new parent, it is critical to:
- Review all existing beneficiary designations
- Add or update your child’s planning structure (often a trust for a minor, not a direct designation)
- Coordinate your beneficiary forms with your overall estate plan so everything works together, not against itself
An estate planning attorney and your financial advisor can help you align these pieces.
4. A Will Alone May Not Be Enough to Protect a Minor Child
A will is a great starting point, but it has important limitations—especially when you have young children.
If you leave money or property directly to a minor child through your will:
- The court will generally have to appoint someone to manage those funds until your child becomes a legal adult (18 or 21, depending on the state).
- At that age, the entire inheritance may be turned over to your child outright—whether or not they are ready to manage it.
You have two better options:
- Testamentary trust in your will.
Your will can create a trust for your child at your death. This means a will now and the promise of a trust later. A trusted person (trustee) manages the inheritance for your child’s benefit and follows your instructions about how and when to distribute it. However, because this trust is created through your will, it still requires probate, and the terms and values become part of the public court record.
- Revocable living trust.
A revocable living trust is created while you are alive. You can: Set the rules for your child’s inheritance; Name a trustee to manage funds for your child; Provide for your own incapacity as well as after your death; Avoid probate, keeping things more private, faster, and often less expensive for your family.
For many young families, a trust-centered plan provides more protection, privacy, and flexibility than a will alone.
5. If You Do Not Clearly State Your Wishes, the State Will Decide for You
Your will, trust, and related documents are your instruction manual for what should happen if you cannot speak for yourself.
If you leave no legally valid instructions:
- The court will apply your state’s default “one-size-fits-all” rules.
- Your child’s guardian, inheritance, and timing of distributions will be decided by law—not by you.
- Your loved ones may end up in conflict, confused, or facing unnecessary delays and expenses at an already painful time.
With a clear estate plan in place, you:
- Choose who raises your child
- Decide who manages money for your child and how it can be used
- Coordinate your will, trust, and beneficiary designations
- Reduce stress, guesswork, and conflict for your family
Next Step: Turn Your Love into a Plan
You are doing everything you can to care for your baby right now. Taking time to put together an estate plan—and often a trust and supporting documents—in place is an extension of that care. You clicked on this article to find out why estate planning for new parents is essential. Now you need to do something with your new found knowledge.
We can help you:
- Nominate a guardian who fits your family
- Decide whether a will, revocable living trust, or combination is right for you
- Coordinate your beneficiary designations with your estate plan
- Build a structure that protects your child beyond their 18th or 21st birthday
When you are ready, contact us to schedule a conversation. Together, we can create a simple, clear estate plan that gives you peace of mind and helps ensure your little one is protected, no matter what.
