We’re expecting a new baby. Is this the right time for estate planning?

Yes. In fact, before your baby arrives is an ideal time to put your estate plan in place. Estate planning for new parents isn’t just about what happens if you die. Some of the most important protections are designed for emergencies that could happen during pregnancy, labor and delivery, or the newborn period. Before you head to the hospital, you can make sure you have documents in place identifying who can make healthcare decisions for you, receive protected medical information, and handle financial matters if you become incapacitated. It also gives you an opportunity to plan for your new child, and to make sure both parents are legally protected.

What happens if the birth parent becomes incapacitated during labor or delivery? A Health Care Power of Attorney allows you to designate the person you want to make healthcare decisions if you cannot make or communicate those decisions yourself. HIPAA authorizations and other advance planning documents can help ensure that the person you trust has access to the medical information needed to advocate for you. And this planning shouldn't be one-sided. Both partners should have documents in place authorizing the other (or another trusted person) to act in an emergency.

What if something happens to both of us? Who takes care of our children? This is one of the most important decisions parents make in their estate plan. The common approach is to include your guardian choices in your will. Our wills in NC have special authority to name a guardian for your children. However, if you're facing incapacity or terminal illness, a Designation for Standby Guardian can document who you want to serve as guardian of your minor children if neither parent can care for them. But naming one person isn't enough. We help families think through first-choice and alternate guardians, so your plan still works if your first choice is unable or unwilling to serve when the time comes. We also help families update these documents if their guardian choices change over the years.

Can someone else consent to medical care for our children if we aren't available? Your planning can include appropriate authorization for another trusted adult to obtain or consent to healthcare for your minor children when you cannot. That can matter during an emergency, but it can also be useful in everyday life when children are being cared for by grandparents or other trusted adults.

What documents should new parents consider?

Every family's plan is different, but planning may include:

• Wills
• Trusts
• Health Care Powers of Attorney
• Guardian and Alternate Guardian Nominations
• Financial Powers of Attorney
• HIPAA Authorizations
• Minor Health Care Authorizations
• Beneficiary Designation Review
• Parentage Planning
• Confirmatory Adoption