A new baby changes what your will needs to do. The biggest job is naming the person you’d want to raise your child if something happened to you and your child’s other parent. This page walks you through what to do this week, what to finish this month, and whether a will is enough or a living trust makes sense.
Written by Randy Smith, founder of Family Estate Guide. Randy is not an attorney; this guide follows our editorial standards and links to its sources. We may earn commissions from purchases through affiliate links.
The short answer
If you have a child under 18, make a will that names a guardian for your child and a backup. Without one, a court decides who raises your child. Your will can also say who manages any money your child inherits until they’re older. Add a financial power of attorney and a health care directive, and check the beneficiaries on your life insurance and retirement accounts.
Many parents haven’t done this yet. In Caring.com’s 2025 survey, parents of children under 18 were the largest group of Americans without a will or other estate documents.
Name a guardian for your kids in a will you make at home.
Trust & Will’s will plan includes guardian nominations for your kids and follows your state’s signing rules. If you own a home or want to keep things out of probate court, its living trust plan includes a backup will where you name the guardian too.
Disclosure: we earn a commission if you buy through the Trust & Will links here, at no extra cost to you. This page is general information, not legal advice. Complex situations belong with an attorney, and we say so below.
This week: the three things that matter most
- Choose a guardian and a backup. Think about who shares your values, has the time and energy, and would be close to your child’s life. Ask them before you put their name in writing. Grandparents are a common first thought; a backup matters because life changes.
- Check your beneficiary forms. Life insurance, 401(k)s and IRAs go to the person named on the form, whatever your will says. Don’t name your baby directly. A child can’t take control of money, so a court may have to appoint someone to manage it. Name your spouse or partner first, then ask the company how to leave your child’s share to a trust or a custodian.
- Write down where things are. One page is enough: your bank and retirement accounts, life insurance, the mortgage or lease, and who to call. Tell the person you trust most where it is.
This month: make it official
- Make your wills. Each parent signs their own. Name the guardian and backup, an executor (the person who settles your estate), and who manages your child’s inheritance and until what age.
- Think about the money side. You can name one person to raise your child and a different person to manage the money. Many parents leave a child’s share in a trust inside the will, so it isn’t handed over in full at 18 or 21.
- Sign it the way your state requires. Most states need two witnesses. Some let you add a notarized self-proving affidavit so your witnesses won’t be needed in court later. Find your state’s rules.
- Add a financial power of attorney and a health care directive for each of you, so your partner or someone you trust can act if you’re hurt or very sick. See the essential documents.
- Ask whether your family would be OK without your income. Many parents look at term life insurance at this point. If you buy it, the beneficiary advice above applies.
- Set a reminder to look at your plan again after another child, a move, or every few years.
Will or living trust for a young family?
A will is often enough to start if you rent or your home is owned jointly with your partner, and most of your money is in accounts with named beneficiaries. It’s also the only document where you name a guardian for your kids.
A living trust is worth a look if you own a home, own property in more than one state, or want someone you choose to manage your kids’ money without a court process. A trust plan still comes with a short backup will, and that’s where you name the guardian.
Not sure which fits? Our 5-question will-or-trust quiz gives you a starting point in about two minutes, and the full will vs. trust guide explains the trade-offs.
What it costs
| Online (Trust & Will) | With an attorney | |
|---|---|---|
| Will | $199 for one person, $299 for a couple | Several hundred to $1,000+ for a simple will |
| Living trust | $499 for one person, $599 for a couple | $1,500–$3,000 for one person; $2,500–$5,000+ for a couple |
Sources: Trust & Will’s pricing page (individual prices checked October 2, 2026; couple prices from our Trust & Will buying guide, checked September 10, 2026). Attorney ranges are from our will cost guide and living trust cost guide, and they vary a lot by state. Trust & Will includes editing and downloads in a $0/year tier after you buy; the optional Essentials membership is $49/year. Prices can change, so check before you buy.
When to see a lawyer instead
- Your child has special needs or may rely on government benefits someday. Leaving money the wrong way can affect those benefits.
- You have children from more than one relationship, or you’re separated or divorced. If your child’s other legal parent is alive and able, they usually get custody no matter what your will says. Your choice of guardian matters most if neither parent can serve.
- You own a business, have a large estate, or expect family members to disagree.
Online tools work well for many families with simple situations. These are the cases where an hour with an estate planning attorney is worth paying for.
Ready to name a guardian?
Pick a will if you mainly need to name a guardian and say who gets what. Pick a living trust if you also own a home and want to keep it out of probate. Either way, you sign it following your state’s rules, with witnesses or a notary as required.
Disclosure: we earn a commission if you buy through the Trust & Will links here, at no extra cost to you. This page is general information, not legal advice. Complex situations belong with an attorney, and we say so below.
Find your state’s rules
Who can witness your will, whether you need a notary, and what a living trust costs all depend on your state. Pick yours:
Show all 50 states and DC
- Alabama: will rules · trust cost
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Common questions
Who gets my kids if I die without a will?
If your child’s other parent is alive and able, they usually keep custody. If neither parent can care for your child, a court picks a guardian. Relatives can ask the court, but the judge decides without knowing what you would have wanted. Naming a guardian in your will gives the court your choice, and courts usually follow it.
Can one person raise my kids and someone else manage their money?
Yes. Many parents name one person as guardian and a different person to manage the money, often as trustee of a trust for the children set up in the will or in a living trust.
Should I name my child as the beneficiary on my life insurance?
Usually not directly. A minor can’t take control of the money, so a court may have to appoint someone to manage it. Parents often name a spouse or partner first, then a trust for the children or a custodian for the child’s share. Ask the insurer how its form handles this.
Do I need to update my will when we have another baby?
Look at it. Many wills are written to cover all your children, including ones born or adopted later, but not all are. Each new child is also a good time to check your guardian choice and beneficiary forms.
How much does a will cost for new parents?
Trust & Will lists $199 for one person or $299 for a couple, which covers a will for each of you. An attorney often charges several hundred to $1,000+ for a simple will, and more for a plan with a trust. Fees vary by state.
Is an online will legal?
The website only helps you write it. What makes a will valid is signing it the way your state requires, usually in front of two witnesses. Check your state’s rules before you sign.
Other life changes that call for a plan
Just bought a home
Will, living trust or deed: how your house passes to your family.
Read the guide →Getting married
What changes for your spouse, your old will and your beneficiary forms.
Read the guide →Moving to a new state
What to review in your will, trust and powers of attorney after a move.
Read the guide →After a diagnosis or health scare
What to do first when time feels short.
Read the guide →Caring for aging parents
How to start the conversation and help your parents plan.
Read the guide →Sources
- Caring.com / YouGov, 2025 Wills and Estate Planning Study: parents of children under 18 are the largest group without a will or other estate documents.
- Trust & Will, 2026 Estate Planning Report (survey of 5,000 U.S. adults by Talker Research; Trust & Will is the company we earn commissions from, so weigh it with that in mind): 50% of parents report having no estate planning documents.
- Trust & Will, pricing, checked October 2, 2026
- Our guides: will cost, living trust cost, essential documents, will vs. trust
This is general information, not legal advice. Estate planning law is different in every state and changes over time. If your situation is complicated, or you’re unsure whether a document will work for you, talk with an estate planning attorney licensed in your state. Your state or local bar association’s lawyer referral service is a good place to start (the American Bar Association lists them).