Do we really need a will?
You certainly do. If you don't have one, you'll leave the fate of your child's guardianship and your assets in the court's hands. Again, this isn't an option anyone would want to consider, especially when starting a new family.  Nevertheless, you owe it to yourself and to those who depend upon you to get this matter sorted out.

Will I need a new health insurance policy?
Each health insurance policy has its own rules regarding children.  Ask the insurance company or your employer what exactly are the terms. Have them send you specific details on the kind of coverage they will give your baby.

How will we pay for it all?
Children are expensive, but most families find their own way to manage expenses. Your budget will change, starting off from things like childcare and nappies and going on to college funds and life insurance.  But on the other hand, you won't manage to get out as much (that is supposed to be the good side...). Anyway, each couple finds its own way to rethink budget issues.  

Think out the different financial options you have, but remember that you are those who will have to live with the choices you make. No amount of advice or counseling can work if you aren't comfortable with it. When it comes to saving money, cut back where you can but give yourself the luxuries you can't do without.  It is best to start saving for college as early as possible, but it's better to have parents who aren't nervous wrecks!

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