Getting Affairs in Order

[rochacha]

Besides all the baby related stuff (nursery, pediatrician, daycare, etc) what other stuff do I need to get in order? I am thinking I probably need to get life insurance and will? Where do I start, and what else should I be doing to get my financial/legal life in order?

[Franni]

What I did was:

Get term life insurance. not whole life
Make a will, mainly for who will take care of baby if anything happens. Select and talk to the person you choose to your baby's guardian.


I am going to be setting a living revocable trust, so that Gwen and whoever takes care of her would not need to go through probate court (and pay lawyer and probate fees) to inherit property that i will leave to them. This takes some cash though ~$3K to set up depending on the amount of property and assets you will transfer to the trust.