ongratulations! Becoming a new parent is a life-changing experience. Whether you are a new parent or just starting to think about estate planning for your children, you undoubtedly have a lot on your “to-do” list. 

We know “estate planning” may not be at the top of your list right now, but it is critical to write down a plan so—no matter what happens—your children are protected according to your wishes. Big life moments like this are the best time to put plans in place for your family’s future.

A recent survey shows that only 32% of Americans have a will.

Many Americans think that they don’t have enough assets to create a will or a trust. In reality, in the eyes of the government, you already have an estate. Your estate plan is meant to be a “framework” to protect your family and plan for their future. 

The most basic estate planning tool is a will. As you think about your will and how to distribute your assets, you will also want to consider who you’d like to name as a future guardian for your children. 

You can even establish a trust that provides funds to be used for your children’s needs. 

Finally, it is important to create a power of attorney and advance medical directives to plan for possible incapacity.