New Baby? Your Estate Planning Checklist

The One Thing New Parents Cannot Afford to Overlook

You have the cot assembled, the nappies stocked, and the car seat installed. You have read the parenting books and chosen a paediatrician. But have you answered the most important question of all?

If something happened to you and your partner, who would raise your child?

That question — and the legal answer to it — is the single most important reason new parents need an estate plan. Without a valid Will that nominates a guardian, the court decides who cares for your child. The court’s choice may not be yours.

This guide provides a complete estate planning checklist for new parents. It covers guardianship, Wills, insurance, super, trusts, and everything else you need to think about when a new baby arrives.

Why New Parents Need an Estate Plan

Let us be direct: the arrival of a child transforms estate planning from “something I should get around to” into “something I must do now.” Here is why.

Without a Guardian Nomination, the Court Decides

If both parents pass away without naming a guardian in their Wills, the Family Court or a state court will decide who raises your child. The court considers the best interests of the child, which may involve:

Extended family members applying for custody
Multiple parties disputing who should be guardian
A court-appointed guardian who does not know your child or your values

The process can take months, during which your child may be placed in temporary care. A simple guardian nomination in your Will avoids all of this.

Without a Will, Your Child May Not Be Financially Secure

If you die intestate (without a Will), your estate is distributed according to rigid statutory formulas. While your child will eventually inherit, the process is slower, more expensive, and may not provide for them in the way you intended. A Will lets you:

Set up a trust to manage your child’s inheritance until they are old enough to handle it
Appoint a trustee you trust to manage the money responsibly
Specify a vesting age (when the child receives the funds — often 18, 21, or 25)
Make provisions for education, housing, and healthcare

For a detailed look at what happens without a Will, see our guide on understanding intestacy laws in Australia.

Your New-Baby Estate Planning Checklist

1. Nominate a Guardian

This is the number one priority. Your Will should nominate at least one guardian — and ideally a backup guardian in case your first choice is unable or unwilling to serve.

Choosing a guardian: Consider:

Values and parenting style — Do they share your approach to education, religion, and discipline?
Age and health — Are they young and healthy enough to raise a child for 18+ years?
Location — Would your child need to move interstate or overseas?
Existing children — Could they take on an additional child without undue strain?
Financial stability — Can they provide a stable home? (Your Will can provide financial support through a trust.)
Willingness — Have you actually asked them? Never nominate someone without their consent.

Have the conversation. Nominating a guardian in your Will is a legal step, but the human step matters just as much. Sit down with your chosen guardian and explain what you are asking. Discuss your wishes for your child’s upbringing, education, and values. Make sure they are genuinely willing and prepared.

2. Create or Update Your Will

If you do not have a Will, create one immediately. If you already have a Will, update it to reflect your new family structure. Your Will should now include:

Guardian nomination for your child (and a backup)
A testamentary trust for your child’s inheritance — this protects the funds until your child reaches a specified age and offers tax advantages
Updated beneficiaries — your child should be named as a beneficiary
An executor who is reliable, organised, and willing to take on the responsibility
Specific gifts — any items of sentimental or financial value you want your child to receive
Funeral wishes — so your executor knows your preferences without having to guess

You can create or update your Will with ezyWill in about 20 minutes. Our guided process specifically prompts you for guardianship and trust provisions when you indicate you have children.

For a step-by-step guide to the Will creation process, see our guide to writing your Will.

3. Set Up a Testamentary Trust

A testamentary trust is a trust created within your Will that takes effect when you pass away. For parents of young children, it is one of the most important estate planning tools available.

Why it matters:

Protection — Your child’s inheritance is managed by a trustee (not handed directly to a minor, which is legally impossible anyway). The trustee manages the funds for the child’s benefit.
Tax advantages — Income earned by a testamentary trust and distributed to minor beneficiaries is taxed at adult marginal rates, not the punitive minor tax rates that apply to other trusts. This can save thousands of dollars over the life of the trust.
Control — You can specify how the trust funds are used (education, housing, medical expenses) and when the child receives the capital (the “vesting age”).
Creditor protection — Assets held in trust are generally protected from the child’s future creditors, bankruptcies, or relationship breakdowns.

For more detail, read our guide on protecting your family with a testamentary trust.

4. Review Your Life Insurance

A new baby significantly increases the amount of life insurance you need. The purpose of life insurance for parents is to replace your income for long enough to raise your child to adulthood.

How much do you need? A common rule of thumb is 10 to 12 times your annual income, but this depends on:

Your partner’s income and capacity to work
Your mortgage and other debts
Childcare and education costs
Your family’s living expenses
How many years until your youngest child is independent

Review both:

Insurance inside super — Most Australians have some life cover through their super fund. Check the amount and whether it is adequate.
Insurance outside super — Standalone policies may offer better coverage, terms, or beneficiary options.

Update your beneficiary nominations on all policies to ensure the payout goes where you intend — either to your partner, your estate (if you have a Will with a trust), or directly to a guardian.

5. Update Your Superannuation Nominations

Your super is one of your most valuable assets, and it does not automatically flow through your Will. Make sure your binding death benefit nomination reflects your current wishes.

If you want your super to be managed through the testamentary trust you have set up in your Will, you may need to nominate your legal personal representative (your estate) as the recipient, so the super flows into your Will and then into the trust.

Alternatively, you can nominate your partner directly. The right approach depends on your specific circumstances and the tax implications.

6. Create or Update Powers of Attorney

If you become incapacitated — through illness or accident — who will manage your finances and make medical decisions for you? With a new baby depending on you, this question is more urgent than ever.

Create or update:

Enduring Power of Attorney (Financial) — authorises someone to manage your finances, pay bills, and handle your affairs if you lose capacity
Power of Attorney (Health/Personal) — authorises someone to make medical and personal care decisions on your behalf
Advance Care Directive — sets out your wishes for medical treatment if you cannot communicate them

For a complete guide, see our Powers of Attorney guide.

7. Organise Your Documents

Gather and securely store all critical documents so your executor and guardian can find them when needed:

Your Will (signed and witnessed)
Powers of Attorney
Birth certificates (yours and your child’s)
Marriage certificate
Super fund details and beneficiary nominations
Insurance policies and beneficiary nominations
Property titles and mortgage documents
Bank account details
Tax returns and financial records

ezyWill’s digital vault provides encrypted, secure storage for all of these documents, with role-based access for your executor and nominated contacts.

8. Tell the Important People

Estate planning is not just about documents — it is about communication. Make sure the following people know their roles:

Your guardian — They should know they have been nominated and understand your wishes
Your executor — They should know where your documents are stored and what is expected of them
Your partner — Discuss your estate plan together and make sure you are aligned
Your parents or siblings — If they are involved in your plan (as guardians, executors, or beneficiaries), they need to know

For advice on choosing and briefing your executor, read our guide on how to choose the right executor.

If You Are a Single Parent

Single parents face even greater urgency. Without a co-parent to fall back on, your child’s future depends entirely on the arrangements you put in place now.

Key considerations for single parents:

Guardian nomination is non-negotiable. Without it, the court decides — and the process may involve your child’s other biological parent, even if they are not actively involved in your child’s life.
Life insurance is critical. You are likely the sole or primary income earner for your child. Make sure you have enough coverage.
A testamentary trust is highly recommended. It ensures your child’s inheritance is managed responsibly, even if the guardian you choose does not have strong financial skills.
Name a backup executor and guardian. Single parents have less redundancy in their plans, so backups are essential.

If You Have Children from a Previous Relationship

If this is not your first child, or if you or your partner have children from previous relationships, your estate plan needs to balance the interests of all children. Blended families face unique challenges, including:

Ensuring children from a previous relationship are not inadvertently excluded
Protecting inheritances from potential claims by an ex-partner
Managing the relationship between a new partner and existing children

For detailed guidance, read our guide on estate planning for blended families.

Do Not Wait for the “Right Time”

New parents are exhausted. Sleep-deprived. Overwhelmed. The idea of sitting down to think about worst-case scenarios is deeply unappealing. We understand.

But here is the reality: you do not need to be well-rested or emotionally prepared to protect your child. You just need 20 minutes and an internet connection.

ezyWill’s guided process walks you through every decision — guardianship, beneficiaries, trusts, executors — in plain English. No legal jargon. No appointments. No waiting rooms.

The best time to create a Will was before the baby arrived. The second best time is right now.

Create your Will with ezyWill — because your baby deserves a plan, not a gamble.

This article is for general informational purposes only and does not constitute legal advice. Guardianship laws, trust structures, and tax rules vary by state and territory. For complex estates or specific legal questions, we recommend consulting a qualified solicitor. ezyWill provides legally structured Will templates tailored to Australian state and territory requirements.