Congratulations — you're a parent. Your life just changed in every possible way. Between midnight feedings, diaper explosions, and trying to remember the last time you slept, the idea of “estate planning” probably sounds about as appealing as a root canal.
I get it. I've been there three times. When my third child was born, I was holding her at 2 AM and a thought hit me: “If something happens to me tomorrow, this family has no plan.”
I was a lawyer. I knew the answer. And it terrified me.
Here's the thing: the five steps below take less total time than assembling a crib (and are significantly less frustrating). Each one protects your family in a specific, concrete way. And unlike that crib, they'll still be working for you 20 years from now.
📋 Quick Overview
Name Legal Guardians (Not Just Godparents)
This is the most important thing you'll do as a new parent — after bringing the baby home. If something happened to both you and your spouse, who raises your child?
Most parents think naming godparents is enough. It's not. Godparents have zero legal authority under Texas law. You need a formal guardian designation — one that's legally binding and immediately accessible.
💡 Tips:
- Choose at least two tiers of guardians (primary + backup)
- Consider: values alignment, location, age, willingness, financial stability
- Have an honest conversation with your chosen guardians before making it official
- Include temporary/emergency guardians who are geographically close — the person who gets there first matters
- Don't choose based on obligation (your parents may expect it, but a 75-year-old may not be the right pick for a toddler)
Create or Update Your Will (Yes, Even If You're 28)
If you die without a will in Texas ("intestate"), state law decides everything. Who gets your house, your car, your savings — all determined by a formula that probably doesn't match what you'd want.
For example: under Texas intestacy law, if you die married with children, your spouse does NOT automatically get everything. Community property is split, and your separate property may be divided between your spouse and children — even if those children are infants.
💡 Tips:
- Name an executor you trust (someone organized, responsible, and willing)
- Specify who gets what — don't leave it to Texas intestacy default
- Include a testamentary trust for minor children (you don't want a 18-year-old inheriting $500K outright)
- Consider who manages money for your kids until they're old enough
- Store your will somewhere accessible — not a safe deposit box that requires a court order to open
Get Life Insurance (More Than You Think You Need)
If you're the primary earner and you have a new baby, you need life insurance yesterday. The formula is simple: could your family maintain their lifestyle without your income for 10-15 years?
For most Texas families with a new baby, that means $1-3 million in term life insurance. That sounds like a lot, but for a healthy 30-something, a 20-year term policy for $1M costs roughly $40-60/month. That's the cost of a few lattes a week.
💡 Tips:
- Term life insurance (not whole life) is usually the right choice for young families — affordable and effective
- Both parents need coverage — even if one stays home (childcare, household management, and emotional support have enormous economic value)
- Name your trust as the beneficiary if you have one (not minor children directly — they can't legally receive life insurance proceeds)
- Review your employer-provided life insurance — it's usually only 1-2x salary, which isn't enough
- Get coverage while you're young and healthy — premiums only go up from here
Set Up Powers of Attorney and Medical Directives
What happens if you're alive but incapacitated? A car accident, a stroke, a serious illness — you can't make decisions for yourself. Without a medical power of attorney and a financial power of attorney, your spouse may not be able to make decisions on your behalf.
In Texas, even your spouse can't automatically access your separate property accounts, make medical decisions if you can't communicate, or handle certain financial transactions without a properly executed power of attorney.
💡 Tips:
- Medical Power of Attorney — designate who makes healthcare decisions if you can't
- Financial Power of Attorney — designate who manages your finances if you're incapacitated
- HIPAA Authorization — without this, doctors can't share your medical information with your family
- Directive to Physicians (Living Will) — specify your end-of-life care preferences
- Make sure your spouse AND your backup person both have copies
Review and Update Beneficiary Designations
Here's the estate planning fact that surprises everyone: your will does NOT control who receives your 401k, IRA, life insurance, or any account with a beneficiary designation. Those go directly to whoever is named on the account — regardless of what your will says.
When you have a new baby, you need to review every beneficiary designation to make sure it reflects your new family structure. Is your ex still on your 401k? Is your life insurance still going to your parents instead of your spouse?
💡 Tips:
- Check: 401(k), IRA, Roth IRA, life insurance, bank accounts (POD/TOD), brokerage accounts
- Typically: primary beneficiary = spouse, contingent beneficiary = your trust (for the kids)
- Never name minor children directly as beneficiaries — they can't legally receive the money until 18, and then they get it all at once
- Set a calendar reminder to review beneficiaries annually and after any major life event
- Log into each account and verify — don't assume it's right because you set it up once
The Bottom Line: It's Easier Than You Think
I know what you're thinking: “I barely have time to shower. How am I supposed to do estate planning?”
Here's the honest answer: steps 1, 2, 4, and 5 can all be handled in a single planning session. That's one meeting. About the length of a pediatrician appointment. And it protects your family for years.
You already did the hardest thing — you became a parent. You already proved you can handle overwhelming responsibility fueled by coffee and love. This is just one more thing to cross off the list. And unlike sleep training, this one you only have to do once.
A note from a fellow parent:
“I coach soccer on Saturdays and grill on Sundays. I know what it's like to have zero free time. That's why I built Legacy Dad to be fast, virtual, and built around your schedule — not mine. One session. Flat fee. Your family is protected. Done.”
Get the Full New Parent Checklist
All 5 steps as a printable PDF — plus bonus tips for choosing the right guardian and a template letter for your kids' caretakers.