When is the best time to take paternity leave?

My husband and I are trying to plan the best time for him to take his paternity leave. But seeing as how this is our first child, we’re unsure when his time and presence will be most needed.

Both of our parents think he should take the full first three months off. That seems like a bit much to both of us. We think they are just being over-protective of their future grandchild.

Whereas his co-workers seem to be workaholics and at the other extreme, taking very little time off. (Though their HR recommends taking off three months as well.)

We’d ask friends and family, but we’re the first of our siblings and friends to be having a kid.

Dads: When did you take your paternity leave?
How long did you take for your paternity leave?
When did you feel your time/presence was most needed?

Moms: When did your partner take their paternity leave?
How long did they take their paternity leave?
When was their time/presence the most needed/critical?