Taking responsibility for a child is an important decision in one's life. As a guardian, you become the primary person responsible for the child's needs and progress in life. Not only must you consider the child in this process, but you must also consider yourself, other family members, and the family environment.
Financial planners recommend that when you have a child you should update a number of personal plans and documents. Here is a checklist of some items which you may need to update, revise, or consider: