Considerations

Setting up a Will
A will is a vital part of the new baby planning process. In the unlikely event that one or both of you die, you will want to have nominated a guardian, otherwise it will be up to the courts to decide who cares for your child. In your will, you will also choose how you want your assets allocated and factor in any eligibility for government benefits.
You may want to consider setting up a trust to protect your child's inheritance.

Health Insurance for you and your family
Health Insurance is another thing to consider. Now with public waiting ques for treatments and hospital surgery the way they are, if you or your partner were to get sick, the time it takes to get back into the swing of things may reduce your ability to look after your baby and enjoy your special time. Of course it also means making sure your baby has good care provided that is fast as well.