I have had a will since the birth of my first child, umpteen years ago. We modified it after our second child but it was more of a technicality than a necessity. The first version had provisions for other progeny, we just added a name. Mine goes to my wife first and the kids thereafter. Hers goes to me then the kids. We had provisions in there that covered guardianship if the children were minors and we both kicked and we ended up separating who handled the money and who looked after the children. We just felt one was more mature and responsible and having to justify an expenditure would keep from having the children given ponies because they wanted one.