Baby rattles, strollers, bassinets and car seats: the choices new parents have to face are mammoth enough to cause sleepless nights all on their own. But while it's common for new and expectant moms and dads to be focused on preparing their home for the new arrival, lots neglect essential parenting paperwork that can impact their child's future fate.

Take a break from nursery paint swatches and crib confusion and brush up on some long-term parental planning by considering:

Your budget. Before you rack up a considerable debt buying the hottest infant "essentials" take a long, hard look at your finances. Chances are you're going to have to live with less for the next while. Pregnancy is actually the ideal time to save money for the upcoming year rather than spending it. Don't forget to factor in extra costs when the baby arrives too, such as diapers, wipes, clothing, etc. which can add up over time. If you're concerned, look for ways to economize-buying used furniture or accepting hand-me downs are all simple steps to hang on to more of your savings.

Daycare options. If you and your partner are planning on returning to work at any point in the near future, think about signing your baby up for daycare now. Many in-demand daycares have waiting lists of a year or more, so the sooner you register, the less likely it is that you'll be scrambling for a sitter later on.

Education. College or university may seem like a long way off for your little one, but with predictions of escalating education costs, tucking away some savings for your budding student is definitely a smart move. In Canada, a Registered Education Savings Plan (RESP) is a wise option as the government will add between 20 and 40 cents on every dollar you contribute depending on your income level and contribution. As another addition to the paper pile, however, you will need to register the baby for a Social Insurance Number first. For more information visit: http://www.hrsdc.gc.ca/en/learning/education_savings/public/cesg.shtml.

Insurance. The thought of leaving their children alone in the world with little financial support causes many parents to examine their life insurance options more carefully. Disability insurance may also become a more pressing need for your family with the added responsibility of parenthood. Speak with a financial advisor and/or your insurance broker to determine appropriate coverage. If you receive health benefits through your workplace, you'll also want to put your new baby under your plan upon his or her arrival.

Documentation. If you're planning on doing any travelling across the North American border or further abroad, you'll want to fill out the necessary documentation to get your new arrival a birth certificate and possibly a passport. For passports, you'll have to register your baby for a birth certificate first through your provincial government. Links to these services are provided at
http://www.thecmr.com/resources/birth_certificate-130.htm.
Depending on the area in which you live getting these documents can take anywhere from a few days to several weeks or even months. For a passport application visit, http://www.pptc.gc.ca/form/index.aspx?lang=eng.

Currently the Canadian government also offers a monthly Child Tax Benefit of $100 which you'll need to register for upon the birth of your baby. For more information visit:
http://www.cra-arc.gc.ca/benefits/cctb/menu-e.html.

Will and estate considerations. Many people put off the grim task of will and estate planning because they don't really want to think about the days when they'll no longer be around. Having a child, however, should be the time when you're propelled into action, otherwise you risk letting other people decide how assets will be divided and, more importantly, who will look after your children. Contact a lawyer and draw up a will now to deal with the division of assets, Power of Attorney and the assignment of a guardian for your children.

The responsibility of parenting and all the additional paperwork that goes with it can seem overwhelming. But by taking a proactive approach and getting the advice and support of the appropriate professionals, the only thing that should be keeping you up at night will be feeding times.