Making a Will
Younger couples often overlook the need to have a will. After all, they don't expect anything to happen to them anytime soon and they probably haven't built up many assets yet. Once a baby is born, the need for a will becomes essential.
You should hire a lawyer if you need more than just a basic will. In complicated situations — for example, if you are not married to your baby's mother, have children from a previous marriage, or already have a lot of financial assets — then a lawyer should help you prepare your will.
Without a will, if both you and your baby's mother die, you have no control over who becomes your baby's guardian. Do you want family members to fight over your baby, have a court pick someone, or have your baby go to a foster home? Or would you rather put some thought into who would best raise your baby, and make sure that they have the legal right to do so?
For most new parents, unless they already have a lot of money or other financial assets, the cost of preparing a will shouldn't be a big issue. A basic will that is easy to prepare is likely to be all you need, and you may not even need a lawyer to do it. There is a wide choice of software and self-help books to help you prepare a simple will on your own, inexpensively.
