Setting up Escrow during your surrogacy is a must have!
Hello, intended parents looking to have a child through surrogacy.
If you’ve reached this article, chances are you are looking into surrogacy costs and all things related to the surrogacy process.
You may have heard of the need for an escrow account during the process of surrogacy- and we want to make sure that you understand why it is so important.
Recently, we have heard the other side of the argument as well- that parents do not need an escrow account (through social media websites pushing for independent surrogacy and independent journeys).
This is not sage advice on the issue of surrogacy escrow accounts or basic surrogacy cost management, and we will delve into that subject as well.
Couples that are thinking about using a surrogate to fulfill their dreams of having children should plan well for the financial portion of the surrogate agreement.
Typically, the intended parents will hire a surrogacy attorney to draw up the details of their surrogate agreement that they make with their chosen surrogate.
Many couples have achieved their goals of becoming parents by working closely with a reputable surrogate agency in California, such as Made in the USA Surrogacy.
We will walk with each unique couple and the selected surrogate through every important step of their beautiful surrogacy journey.
Most experts on GSA (Gestational Surrogate Agreement) matters strongly recommend setting up an escrow account to ensure that the necessary agreed upon funds are put aside to cover the costs associated with this process.
More couples intending to be parents after being unsuccessful in having a child on their own are often emotionally vulnerable.
In addition, women who make the gracious gift of life when they become surrogates can be taken advantage of just as easily, or vice versa.
A well thought out and detailed GSA, or gestational surrogate agreement, should ideally protect the interests of both the intended parent and the woman who agrees to have another couple’s baby.
Why Should an Escrow Account Be Set Up for Surrogacy Purposes?
The purpose of a valid financial escrow account is to ensure that everything goes smoothly during the entire surrogacy process. The intended parents should meet with an experienced surrogacy attorney to draw up a legal contract that details what the money in the account is to be used for.
These things to consider include:
- Money to cover the healthcare costs of the gestational carrier
- Funds to be used by the woman carrying the child for living expenses like maternity clothing, special diet foods and the like
- Costs for the birth itself
- Timing for when the payments will be made to the surrogate
- Treatment costs while the gestational carrier waits to become pregnant with the intended parent’s baby – IVF etc.
- Any medications necessary before, during and after pregnancy
- Travel expenses for the gestational carrier to medical appointments, legal consultations and more
- Travel expenses for the intended parents when the baby arrives
- Funds for the agency, legal and other necessary fees
- Agreed upon funds or compensation value to the gestational carrier
- Additional funds for complications like multiple births, healthcare crisis for carrier or baby and other unexpected expenses
These types of legal agreements can and should be worded to fit the exact needs of the parties involved.
The above account recommendations are just that, and each entering into this type of formal legal agreement should ensure that everything that they expect from the process is written down beforehand to avoid future financial and legal problems down the road.
Benefits of Working with a Trusted and Reliable Surrogate Agency
In this age of digital-based information and communication, many intended parents make the mistake in thinking that they can streamline their efforts and reduce expenses by handling all of the necessary legal and financial matters on their own.
This can go very wrong, and the mental, emotional and financial stress that can result are simply not worth it in the end.
We have had countless couples after signing up with our California surrogate agency, tell us horror stories about escrow accounts going rogue (set up with unlicensed parties out to get their money), and being told to forgo escrow accounts altogether by those in social media.
This can easily lead itself to fraud, theft, and confusion on behalf of everyone involved in the fiscal disbursments of this process.
When couples work with a fully trusted and reliable surrogate agency that deals exclusively with this method of getting their child, the entire process and end results are typically far more satisfactory to each party involved.
A professional and knowledgeable agency not only helps couples find the perfect candidate, but they also remain involved throughout the escrow process, and we have access to some of the best surrogacy trust account advisors in the United States.
They have the proper licensing, bonds, and legal authority to remain a separate 3rd party in the disbursement of your hard-earned funds.
At Made in the USA Surrogacy, we never allow parents to move forward without first setting up an escrow account with a trusted Escrow provider who is properly insured and licensed to do so.
Our surrogacy agency, in essence, acts much like a middle management team, and this can take the pressure of dealing with financial, legal and other planned matters off of the intended parents and their selected baby carrier.
We help you manage your surrogacy costs, the budget we have set up for you and the disbursement of your surrogacy funds through your escrow account so that you are not saddled with the responsibility to pay your surrogate or keep track of all of the individual payments you will be responsible for throughout your surrogacy journey.
This can ensure that medical bills, baby carrier needs and various fees are paid on time and at the agreed upon amounts.
Is an Agency Really Necessary if There is a Valid GSA?
Working with a surrogacy agency to find a surrogate near you or find a California surrogate will be the best decision you make in the process of figuring out your surrogacy journey.
Our surrogate agency is equipped to handle every question, need, and professional referral to get you to the finish line so you can realize your dreams of having a family! This is an emotional time for everyone involved, and having a professional team available each step of the way can prevent many issues from occurring in the first place.
Our surrogacy agency sits down with everyone involved to discuss each individual surrogate mother’s budget, and we plan all pertinent contract details.
Then our agency representative will ensure that payments, account funds, and other financial matters are carefully monitored to keep everyone from straying off from their agreed upon budget plans.
Special Considerations for Surrogacy Sacramento Surrogates & Intended Parents Should Know
Women who elect to become a surrogate in California have the benefits from living in one of the top-rated states that have surrogate-friendly laws on their side.
The courts here in this state have ruled that it is lawful for surrogates to be appropriately compensated for their life-giving efforts.
Due to this, many couples from other places near and far come to the Sacramento, California region to take advantage of this wonderful opportunity.
There are many dedicated individuals who have worked hard to ensure the rights of other baby carriers and intended parents who follow in their footsteps.
Since so many happy couples respond favorably to this process, it appears that having clear and straightforward laws on the topic have improved on how people feel about this form of becoming a parent.
Previous cases much dramatized in the news happened long before these better laws were enacted and surrogacy in California has become a trusted way to have a family.
Is There a Caring & Experienced Agency Specializing in Surrogacy Near Me?
If you are one of the many prospective parents or you are interested in the details on how to become a surrogate yourself, simply type in surrogacy near me into your favorite search engine bar.
In a few clicks, you should see our agency pop right to the top of your list!
Please fill out this form if you are a parent looking for a surrogate and need help with your escrow account details, and all other aspects of your surrogacy journey.
If you’d like to become a surrogate with our agency, please fill out this form.
Our dedicated and passionate staff here at Made in the USA Surrogacy are happy to assist you in beginning your exciting new surrogacy journey with us.
We can help interested parties to find the best fertility doctors, other medical care, a qualified surrogacy attorney, surrogacy escrow specialists and so much more.
Learn more by contacting us today, and read more on the value of escrow accounts and other helpful financial planning tips on our other blog articles.