Are you welcoming a baby into your family? Congratulations!
While the birth of a new baby is always a blessing, I know that there are innumerable concerns and worries that come along with a bundle of joy. Although unpleasant, one of your new considerations should be how to ensure your little one is provided for if something should happen to the two of you.
If you have not done so already, now is an excellent time to draft and execute a will so your wishes regarding the new addition’s (and any siblings’) guardianship and care are carried out in the case of the death of the two of you. A duly executed will also ensures that your assets are distributed according to your wishes, without the legal and court fees involved when the state must determine how to distribute your assets.
If you have already executed a will, it is imperative that you now update it to provide for your little one’s care and to ensure he or she is included as a beneficiary.
I know the addition of a new baby to the family adds immense joy as well as many new worries. Unfortunately, we can’t help with the middle-of-the-night wakings. But by drafting and duly executing a will, you can put your minds at ease that at least this issue is taken care of.
All our best to you and your expanded family!
Michelle Green is a general practice and Chicago small business lawyer with G &G Law.