A will is important, now that you’re parents, because it’s a legal document indicating who will be your child’s guardian if you die and to whom you will leave your savings, possessions and property. Consider your choice carefully, and put it in writing.
You’ll also need to name a trustee, who will manage the property you leave to your child until he or she is an adult. The trustee can be the same person as the guardian or someone else.
If the cost of hiring a lawyer is delaying your writing a will, check your public library and online for sources that will guide you through creating one yourself. Look for information specific to your particular state.
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