New Parents — Why You Need a Will (and What It Actually Covers)

Having a baby changes everything — including how urgently you need a Will. Here's what changes, and what to put in place.

The guardianship question

Without a will, there's no clear legal guidance on who should raise your children if something happens to you. A will lets you formally nominate a guardian — one of the single most important things a will does for parents.

What a Will covers for new parents

• Nominating a guardian for your children

• How your assets support your children if you're no longer here

• Setting up a trust structure (testamentary trusts) so a young child doesn't inherit a lump sum directly at 18

• Naming an executor you trust to manage things responsibly

What happens without one

If both parents pass away without a will, the guardianship of your children can become a court matter — decided by a judge, not by your wishes, often causing added stress for family during an already difficult time.

When to review your choice of Will

• Every few years or when there are major changes to your circumstances

• If your nominated guardian's circumstances change

• After a house purchase or major asset change

Conclusion

This is one of the few things that genuinely gets easier once it's done — 15-20 minutes now for real peace of mind. Take the steps to determine what type of Will, a Simple Will or a Will with Testamentary Trusts suits you, and get it happening.