Welcoming a new baby brings a wave of new responsibilities. This checklist is a straightforward guide to help you navigate the critical legal and financial steps that are most often missed during the first six months.

1. Get the SSN & Birth Certificate

Usually handled at the hospital, but ensure you receive the hard copies in the mail. Make sure to keep them well protected. You need the SSN for taxes, opening accounts, and adding them to health insurance.

2. Add Baby to Health Insurance (Urgent)

Time sensitive! You typically only have 30 days from birth to add your baby to your employer's health insurance plan. If you miss this window, you may have to wait until the next open enrollment period.

3. Start a Savings Habit

Open a dedicated savings account or a 529 College Plan. The magic of compound interest means that starting now with a tiny amount (even $25 a month) is exponentially better than starting later with a large amount.

4. Name Legal Guardians (Will)

If something happens to both parents, a judge decides who raises your child unless you have a legal Will. Name a primary and a backup guardian to ensure your child is raised by someone you trust.

5. Update Your Beneficiaries

Log into your 401(k), bank accounts, and existing insurance policies. Make sure your current spouse and child are listed as the primary or contingent beneficiaries (and remove any out-of-date designees).

Most Missed

6. Build the "Income Backup Plan"

If you or your partner pass away, or get diagnosed with a severe illness, how does the mortgage get paid? Your child depends entirely on your income.

Ensure you have enough Life Insurance to replace your income for the years your child is growing up.
Look for policies that include "Living Benefits" (which pay out if you get severely sick or injured, but survive).

7. Create an Emergency Binder

Put your Will, account passwords, Life Insurance policy documents, and emergency contacts in one physical binder. Tell a trusted family member exactly where to find it in your house.

The First 6 Months