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New Baby

How should you prepare financially for little ones joining the family?

6 Financial Tips for a Growing Family

Whether you’re expecting a baby, preparing for adoption, or already busy with children at home, it’s easy to overlook or postpone dealing with the financial aspects of a growing family.

Here are six tips to consider, sooner rather than later. If you wait, it will be even more difficult to find the time.

Next steps

  • Create your team: lawyer, accountant, financial advisor.
  • Make an appointment to create or update your estate plan.
  • Review your budget, insurance needs, and taxes.
  • Start your child’s education fund.

Trust services available through banking and trust affiliates in addition to nonaffiliated companies of Wells Fargo Advisors.

Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.

Wells Fargo Advisors does not provide legal or tax advice. Be sure to consult with your tax and legal advisors before taking any action that could have tax consequences. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.