With all the celebrations surrounding the birth of a baby, it's easy to forget that the parents need to update their estate plan to reflect this happy event. For some couples, this could mean drafting the documents that form the basis of a rudimentary estate plan when none is already in place.
Have you thought about your estate plan today? Do you even have an estate plan in place just in case the worst should happen? If you're like a lot of Millennials and some Gen Xers, you may have answered no to these two questions. That's because many in this age group associate estate planning with retirement age. But as the famous insurance commercial explains: that's not how this works.