Parents should increase their efforts to save and invest, spend within their means, take a fresh look at workplace benefits, and utilize tax credits to prevent financial blunders.
There are several other tax credits that you can use if you have a child. Check with your tax professional for possible changes associated with the 2017 Tax Law.
If the family’s primary earner passes, your life insurance should cover your fixed living costs as college tuition and other child care needs depending on their ages.