As an intended parent, your journey can often be overwhelming and exhausting. But one part of your journey that doesn’t have to be complicated is the escrow process.
Hello, I am Denise Steele with SeedTrust Escrow. As a mother who built my family through both egg donation and adoption, I recognize and appreciate how challenging it is to take the leap of faith that’s required for you to pursue having a child through third-party reproduction.
If you’re embarking on a third-party fertility journey, you have the right to choose your own independent escrow provider. Many parents underestimate the importance of this decision, but your choice plays a critical and impactful role in the management and outcome of your journey.
Escrow providers are not all the same and there are a number of questions you should ask potential escrow providers before putting your trust (and your money!) in their hands.
Protect yourself against theft and misappropriation of funds
One of the most important questions you should ask is “Are you licensed and bonded?” If theft or misuse of funds occurs by an escrow provider who is not bonded, you could be left with no means of recouping your money, possibly forcing you to stop your journey altogether.
SeedTrust is fully insured and bonded. Our $40 million dollar bond secures every dollar we hold or manage, so you never have to worry about losing your hard-earned funds.
Ensure proper oversight of your escrow account
Another important question to ask is “Do you hold all funds in an attorney-managed trust account?” This may sound like a trivial distinction, but tying an attorney to the trust account adds an essential extra layer of oversight and accountability since the Bar Association has the ability to monitor the account to ensure it is in complete compliance with all applicable laws and regulations. If it is not, the attorney faces the penalty of losing their license.
SeedTrust funds are held and managed by our Attorney Roland Salloum, who is a member in good standing with the Bar Association.
Be certain disbursements are in accordance with your contract
You also want to be sure that your escrow manager is reviewing supporting documents and disbursing fund requests ONLY when they are in accordance with your gestational surrogacy agreement, not just because they are asked to process a payment.
SeedTrust’s trained team of legal and financial experts scrutinize each disbursement request, making sure each request includes proper supporting documentation and corresponds to the contract that both parties have agreed to.
Your choice is critical to a successful journey
Selecting an escrow fund management company is a critical decision — one which should be made only after careful consideration of all facts and information. Ask questions, demand documents, and take the time to investigate all available options thoroughly. It’s the only way you will feel completely confident that the choice you made will provide you with the highest levels of security, transparency, service, and the peace of mind that you deserve.
Choosing to work with an escrow company that specializes in ART Escrow and is an independent third-party, like SeedTrust, removes the heavy stress when it comes to managing the financial aspects of your journey, allowing you and everyone involved in your journey to focus on what really matters — building your family.
I wish you the very best in your journey to parenthood!