Fabisch Law Offices is here to help if you welcome a new child into your life through birth or adoption. We can work with you to understand the steps you need to take to make sure the child is provided for, no matter what happens in your future. Give us a call today to find out more about how our Massachusetts estate planning lawyers can help you and to discover why it is so important to make or update an estate plan after a baby is born.
Why You Need Help from a Massachusetts or Rhode Island Estate Planning Lawyers After a Baby is Born
When a baby is born, you should get help from an estate planning lawyer because:
- You’ll need to name a guardian for the child:
If something happens to you, you want to determine who will raise the baby. Although you might assume the child’s other parent could raise the child if you become incapacitated or pass away, it is possible both parents could be hurt together. A valid will is the ONLY way to legally inform the probate court about your preference for who will raise your child. Having a backup guardian is key to avoiding a custody battle between two well meaning sides of a child’s family and ensuring your child is raised by a person you think is appropriate who shares your values.
- You may need to purchase life insurance:
Raising children is costly. In all likelihood, you should have a life insurance policy so there is money to provide for your partner and your child in case of your untimely death. If both you and your spouse should pass, a life insurance policy can also be important to guarantee that the guardian of your choice has the financial resources available to them to raise your child.
- You’ll need a plan for your child’s college education:
Although buying life insurance can ensure your child will be able to afford college if you pass away, you will hopefully live long after your child graduates from college. This means you’ll need to make a plan to try to ensure that your child won’t be saddled with a fortune in debt after graduation. An experienced attorney can help you to determine what types of tax-advantaged college savings plans are right for you and can assist you in protecting assets so your child’s college fund is safe.
- You’ll need a plan for your child to inherit:
If you leave money to a minor child (that is, a child under the age of 18) and something happens to you, the court will typically appoint a guardian or conservator to manage the child’s money. Without an estate plan, there is a substantial risk that the court would appoint a guardian other than the person you’d have preferred. Then, once the child turns 18, he or she will inherit directly, without any limitations. This could mean a young teenager is handed a lot of money at once. If you don’t want a guardian appointed by the court or money given with no strings attached to your 18 year old, you should work with a Massachusetts or Rhode Island estate planning lawyer to determine how to use tools like trusts to structure your child’s inheritance. Many parents choose to have a series of phased distributions set over a period of years designed to help the child accomplish life goals like finishing their education or buying their first home.
These are just a few of the key reasons why hiring an attorney to make an estate plan is so important after your child is born or after you adopt a child. You may have many other issues specific to your family that need to be addressed, so you should reach out to an experienced attorney to get personalized advice on how best you can prepare an estate plan after a son or daughter comes into your life.
Getting Help from Massachusetts and Rhode Island Estate Planning Lawyers
Massachusetts and Rhode Island estate planning lawyers at Fabisch Law Offices will guide you through the key steps you need to take to save for college, ensure your child is financially provided for, and make plans for the care of your child if something happens to you. As soon as your little bundle of joy comes into your life, you should reach out to our legal team so you can have the peace of mind of knowing you’ve done all you can to protect your child.
To find out more about the services we can offer you when you become a new parent, join us for a free seminar, give us a call at 401-324-9344 or contact us online to get help putting your personalized plan in place.
Originally published 1/14/2018, this article was updated on 8/20/2025 by By Matthew Fabisch, Esq. – Former Rhode Island Probate Judge • Founder, Fabisch Law • Trusts & Estates Attorney • Father of Four