BookmarkBookmarkTick

Updating Your Estate Plan Now That You're Pregnant

You may have created an estate plan back in the day, but now that you're expecting, it needs a little updating. Here's how.
ByHasti Daneshvar
Updated
August 6, 2020
hands holding miniature house
Image: Tereza
We have included third party products to help you navigate and enjoy life’s biggest moments. Purchases made through links on this page may earn us a commission.

Now that you’re pregnant, it’s a good idea to update your estate plan. There’s no point in having an outdated will, or worse, no will at all. Because let’s face it: Having a baby pretty much changes everything, and if the worst should happen to you and your partner, you want to make sure your child’s future is secure.

In fact, any big life change, like getting married or divorced, inheriting assets, acquiring or selling new property and any changes to applicable laws are good reasons to update your estate plan— which consists of your will, trust and guardianship documents—or to create them if you don’t already have them.

When updating your will, you’ll want to make sure baby is cared for in the event of your death—meaning your child has a guardian and money—and that your property passes on to the right person.

Review your plan periodically to make sure it continues to meet your family’s needs. As your family changes, the size of your estate and your goals will also change, requiring you to revise your plan. Some attorneys offer maintenance programs that provide you with legal updates and allow you to make amendments to your existing estate plan whenever a life-changing event happens.

But there are also online estate planning tools that let you create digital estate planning documents that can be updated at any time. Willing, for example, allows you to create a will and get it signed, notarized and witnessed entirely online without having to pay for a lawyer. Your documents are stored digitally and are free to access and amended.

Updating your estate plan might seem like a daunting task, but luckily there are services out there that make it simple and convenient. At the end of the day, what’s most important is ensuring that your child is well cared for, according to your wishes, no matter what the future brings.

Related Video
Concept image of money formed into flowering plants.

One in Six Families Spend Over $5,000 in Childbirth Fees, Study Says

profile picture of Nehal Aggarwal
Nehal Aggarwal
Associate Editor
Published
06/17/2021
Advertisement

Q&A: Financial Prep Checklist Before Baby?

profile picture of The Bump Editors
The Bump Editors
Advertisement

Quiz: Are Your Finances Baby-Ready?

profile picture of Kate Rockwood
Kate Rockwood
couple looking at bills on laptop together

How to Make Sense of Your Hospital Bills After Birth

profile picture of Emily Gillen, PhD
Emily Gillen, PhD
Health Services Researcher
baby dressed in pretty bonnet, with gold bow and cute socks

Women Reveal Their Biggest Financial Mistake as First-Time Moms

profile picture of Stephanie Grassullo
Stephanie Grassullo
Associate Editor
Published
05/16/2019
grandfather playing with his toddler age grandkids in the backyard

Here’s Where You Should Live if You Want to Have a Baby and Not Go Broke

profile picture of Stephanie Grassullo
Stephanie Grassullo
Associate Editor
Published
05/14/2019
illustration of parents putting money into a large piggy bank

Most Parents Don't Save Enough Money for Baby's First Year, Study Reveals

profile picture of Stephanie Grassullo
Stephanie Grassullo
Associate Editor
Published
03/01/2019
parents reading night time story to baby

10 Best and Worst States to Have a Baby

profile picture of Stephanie Grassullo
Stephanie Grassullo
Associate Editor
Published
01/16/2019
Article removed.