If John is going to have a child, which of the following should he do for his estate planning?

Question

Quizplus · Accepted Answer

John should review his will to ensure that his child is included and provided for in the event of his untimely death. This may involve updating beneficiaries, appointing a guardian, and allocating assets to the child. While adding a codicil to his will may be necessary, reviewing the will as a whole is a better option. Starting an RESP is a good financial planning tool for the child's education, but it is not directly related to estate planning. Reviewing his power of attorney is important, but not as crucial as reviewing the will in anticipation of a new child.

If John Is Going to Have a Child, Which of the Following