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Planning Beginner: Financial Issues for New Parents

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1.
There are tax breaks available to parents with dependent children.
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True. The IRS cuts you several nice breaks every year.
2.
All pregnancy costs are covered by health insurance.
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False. This is why anyone planning to get pregnant should investigate what is covered.
3.
You can open up a custodial investment account in your child's name.
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True. This is a good way to get your child started on investing.
4.
Which of the following are tax breaks that parents can qualify for?
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Both of the above. These as well as a few others are some tax breaks that you should investigate if you are a parent or planning to become one.
5.
You can select a person to act as guardian for your child after your death in your _______.
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Will. Guardians for children are named in the parents' wills.