Just a few years after your child came into the world, imagine waking up in the middle of the night with a start. Have you named a guardian for your child in case something happens to both of you? If you’re struggling to remember, you might find yourself hastily writing a note to check in the morning. And when you do check, you might find, just as I did, that despite your expertise in consumer reporting or financial planning, you’ve overlooked this essential piece of planning. Luckily, you’re still here, and there’s time to add a guardianship document to your will.
What to Pay Attention to in Newborn Paperwork Management?
Birth Certificate
Hey, this might seem like an obvious step, but there are a few important things you should know. Whether your baby is born in a hospital or at home, the hospital staff or your midwife will hand you the necessary forms to apply for a birth certificate. Make sure you take care of this as soon as possible. Putting it off for more than a year can really make it a hassle to obtain other official documents, like a passport, for your little one. After you’ve applied, keep in mind that not all states will automatically mail you a copy of your baby’s birth certificate. You might have to complete a separate form specifically for ordering one. To help you out, the Centers for Disease Control and Prevention offers a handy list of vital-records offices across each state. Considering how essential and lifelong this document is, it’s probably a good idea to get several certified copies while you’re at it.
Social Security Сard
In the past, obtaining a Social Security card was something people typically did when they first entered the workforce. However, the times have indeed shifted. The Social Security Administration now advises that you apply for your baby’s Social Security number immediately after birth, preferably while still at the hospital. This number is essential for your child to access health insurance, open a bank account, or qualify for various government services. Additionally, having a Social Security number for your baby allows you to claim them as a dependent on your tax returns, bringing potential financial benefits. If you missed the opportunity to apply at the hospital, don’t worry. You can easily visit a Social Security office to complete the application process.
If you need to send baby records to a doctor or government agency, how will you do it? If you are new parents, you might think that you can use the mail. Although this option is often available, it is far from the best in terms of data security. In addition to wise document organization, it will be useful for you to learn how to send and receive faxes on your smartphone. Now you can use the fax app to work with fax technology instead of a desktop machine. Rest assured, this will be useful in family organization documents.
Will
You need a will to ensure that if something unexpected happens to you, you’ve already made clear decisions about how your assets, from bank accounts to baseball cards, should be handled, rather than leaving those decisions up to a probate court. Allowing the court to decide can be both time-consuming and expensive. By creating a will, you provide legal clarity, ensuring that your assets are utilized to best support your child in your absence. It’s also important to appoint an executor, someone you trust to carry out the instructions laid out in your will. While many married individuals choose to leave everything to their spouses, with their children named as alternate beneficiaries, it’s crucial to consider this decision carefully.
Guardianship Document
This can be included in your will or as an additional document to it. It’s crucial for determining who will take care of your child or children if both you and the other parent were to pass away. It’s also wise to name an alternate guardian as well as a temporary one. When you are traveling, it’s essential to give a caregiver the authority to obtain medical care for your child… In the event of death, and if your chosen permanent guardians are located far away, appointing a temporary guardian ensures someone is there for your child until the permanent ones can take over.
Beneficiary Change Form
When you welcome a new baby into your family, it’s important to revisit the beneficiaries for your IRA, 401(k), and life insurance accounts. Typically, if you’re married, your spouse automatically becomes the primary beneficiary of your retirement accounts by law. However, you have the option to make a significant change by naming your child as the “contingent” or backup beneficiary. This adjustment ensures that, in the unfortunate event of your spouse’s passing, your child will inherit the funds. It’s crucial to remember that the beneficiaries you name on these accounts take precedence over any instructions laid out in your will.
Health Insurance Card
When it comes to insurance, remember to include your newborn in your health-care plan and ensure each child has their own health insurance card. If your plan typically has a fixed enrollment period, know that you have the option to update your coverage following a qualifying life event, such as welcoming a new baby into your family.
Immunization Records
Your pediatrician will initiate a record for your child’s vaccinations, but maintaining your own updated copy is highly recommended. This record becomes essential when you’re enrolling your child in daycare or school. Additionally, knowing which diseases your child has been vaccinated against is particularly useful if you plan to travel to less-developed countries.
Final Words
When you have put your documents in order for your child, you can sleep peacefully, knowing that everything will be fine with your child. Now ensure reliable and correct document storage. Congratulations, you are ready even for unforeseen situations!