Wills and Trusts Attorney Tips for First-Time Parents
Becoming a parent changes everything. You suddenly find yourself thinking about the future in a whole new way. The late nights, diaper changes, and baby giggles are just the start. Pretty quickly, questions come up that go beyond day-to-day parenting. What happens if one of us gets sick or something unexpected happens? Who would look after the baby if we couldn’t?
It’s normal to avoid these thoughts, but having a plan in place can bring peace of mind. That’s where a wills and trusts attorney can be helpful. Setting up the right legal documents doesn’t just protect your assets, it gives your child security if life ever takes a turn you didn’t see coming. It’s planning with love, today, for tomorrow.
Why Estate Planning Matters When You Have a New Baby
For first-time parents, creating an estate plan is often about one thing: making sure their child is always taken care of. That starts with naming a guardian. A legal guardian is someone you trust to raise your child if both parents are gone. Without this written into a will, the decision could be left to the courts, which may not align with what you would’ve wanted.
A simple will can name this person and leave instructions about how your child should be cared for. Beyond guardianship, it can also list how your belongings should be passed down and who’s responsible for managing your affairs. In Illinois, and especially here in Chicago, state laws shape how all this works, so the documents need to follow the right format.
We bring over 25 years of dedicated experience to Illinois estate planning, ensuring each family has documents that comply with state requirements.
Putting it off can be easy, but once you’ve made these decisions, you’ll likely feel a sense of relief. You’re no longer guessing, and neither is your family.
Trusts: More Than Just for the Wealthy
A common misunderstanding is that trusts are only for families with a lot of money. The truth is, trusts can be useful for families at many income levels, especially with young children.
Here’s how a trust can help:
• It can hold life insurance money or savings and manage how that money is used
• You can decide when your child receives funds, which protects against overspending at a young age
• It helps keep things private by avoiding probate court
Families often choose something like a revocable living trust, which can be changed as life changes. A minor’s trust is another option for holding money for a child until they’re old enough to manage it. These types of tools let you make sure resources are used the right way, by the right people, at the right time.
We offer custom trusts as part of our estate planning services, designed to address varying family needs and future uncertainties.
Choosing the Right People for the Right Jobs
Estate planning isn’t just about documents, it’s about people. Parents often have to pick a few trusted individuals to carry out their wishes.
Some of the key roles include:
• Guardian: The person who would raise your child if needed
• Trustee: The person who would manage any trust you create for your child’s assets
• Financial power of attorney: Someone who can manage your money decisions if you can’t
• Medical power of attorney: Someone who can make healthcare decisions when you’re unable to
These roles aren’t small, so think about who you’d want handling each one. Someone calm during crisis. Responsible. Good at listening and acting. It helps to ask them directly and explain what you’re planning. That way, they’re not caught off guard later.
When Should First-Time Parents Name Powers of Attorney?
Many parents focus only on wills and trusts, but powers of attorney are just as important. These are documents that name someone to make decisions if you become unable to.
There are two main types to think about:
• A financial power of attorney allows someone to pay your bills or manage accounts if you’re not able
• A medical power of attorney lets someone step in to make care decisions if you’re too sick or injured to do so yourself
Even young, healthy parents sometimes face unexpected medical emergencies. When these documents are in place ahead of time, the people around you know who should speak up and what to do. Decisions don’t have to be delayed or debated in a stressful moment.
A wills and trusts attorney can help make sure these forms are filled out correctly and follow Illinois law, so they’ll hold up if ever needed.
Secure Your Family’s Future: A Lasting Commitment
Life with a new baby can feel like everything changes by the week. Estate plans aren’t a once-and-done task, they can change along with your family. Maybe you welcome a second child, move to a different home, or decide someone new is a better fit for a key role. That’s all normal.
The good news is, once the foundation is in place, updates are easier. And with each step, you build more protection around the people you love most. That feeling, that your child is covered, no matter what, is one of the best gifts new parents can give themselves.
Work With a Chicago Estate Planning Attorney You Can Trust
Meeting with a wills and trusts attorney early helps get those first decisions in motion. From there, it becomes a living plan that grows right alongside your family.
A thoughtful plan can grow with your family’s needs, from naming guardians to choosing someone to manage your child’s future finances, and the right steps now can offer lasting peace of mind. Many first-time parents in Chicago start with a conversation about how a wills and trusts attorney can help shape early planning. At Marshiano Law Group, we understand how important each decision feels when you are just getting started. Contact us to begin planning for what matters most.
