New Baby Checklist

Helpful tips for new parents to consider

Health Insurance  

  • Add your new baby to health insurance
  • Review for adequate coverage 

Legal Considerations

  • Consider designating your new child as beneficiary on bank accounts, insurance policies and
  • investment accounts, retirement accounts
  • Review life insurance policies for adequate coverage
  • Review or consider disability insurance 

Estate Planning

  • Review trust documents or wills that were created before the birth of your new child with an Attorney and make necessary changes
  • Designate guardianship in the event of parent's death, it is imperative to have this in place

Financial Considerations

  • Create a monthly budget with new expenses
  • Review debt for rate, term and consolidation options
  • If you don't already have, start an emergency fund
  • Consider saving early for college
  • Consider opening a minor savings account

Taxes 

  • Seek advice from an Accountant for new tax credit rules

 

We're here to help!

If you have questions, give us a call at (877) 820-2265, schedule an appointment, or stop by one of our branch locations.

Schedule an appointment 

Find a branch 


This information is prepared and is made available as a courtesy. The information herein does not substitute for legal or financial advice directed to your particular situation and we do not warrant the accuracy of any statement. It is recommended that you consult with the appropriate professional for guidance and assistance. Macatawa Bank does not provide legal advice.


Products offered by Macatawa Bank Wealth Management are:  Not insured by the FDIC.  Not a bank deposit, bank obligation, or guaranteed by the bank.  Subject to investment risk, including potential principal loss.

We're happy to help.

Looking for answers? Need some sound advice? Want to talk over your financial options? Fill out the form below and we'll be in touch.
* = Required field.


Preferred form of contact*

Recaptcha*