A surrogacy journey is exciting but can be overwhelming and exhausting, especially if you choose to work with a surrogate independently, without a surrogacy agency to guide you.
When you’re involved in an independent surrogacy journey, escrow is essential for protecting both the intended parents and the surrogate. With the help of a qualified surrogacy escrow company, this part of the journey doesn’t have to be complicated or overwhelming.
This blog post will explain why escrow is so important in the independent surrogacy journey, how escrow works in an independent surrogacy arrangement, and how to find a trusted and reliable escrow service.
By the end of this post, you’ll understand why escrow is such a critical part of the independent surrogacy journey.
What is surrogacy escrow?
Surrogacy escrow is a financial arrangement that helps to protect the rights of both the intended parents and the surrogate during the surrogacy process. The intended parents and surrogate enter into an escrow agreement, which outlines each party’s financial responsibilities and rights with respect to the surrogacy process. The escrow company acts as a third party that holds and distributes funds from the intended parents to the surrogate as outlined in the escrow agreement.
Essentially, the purpose of surrogacy escrow is to ensure that all parties involved in the surrogacy arrangement are financially secure throughout the process. It is important to note that qualified, reputable attorneys should be retained to represent both parties because the escrow agreement does not cover any medical or legal issues associated with the surrogacy arrangement, such as pregnancy care and custody of the child. Those matters are typically addressed through separate agreements, which are handled by your attorney.
Surrogacy escrow companies are designed to provide both financial security and peace of mind for all parties involved. By using a third-party escrow company to manage all of the money associated with the surrogacy arrangement, both the intended parents and surrogate can rest assured that their rights are being protected and that their financial interests are being taken care of.
What is independent surrogacy?
For all involved, surrogacy can be a time of anxiety, uncertainty, and stress.
Independent surrogacy is an arrangement between intended parents and a surrogate, in which the intended parents hire the surrogate to carry a child for them. There is no third party or agency involved, and all communication is directly between the surrogate and the intended parents. Independent surrogacy arrangements are often, but not always, between parties who are close friends or family members.
Surrogacy is a long, complex process with many uncertainties and legal hurdles to navigate, making it an incredibly stressful process for all parties involved. For surrogates, intense physical and emotional stress is common throughout the process, as surrogates may fear medical complications, experience negative feedback from their family or friends, and have to juggle the everyday pressures of a demanding pregnancy while trying to connect with intended parents emotionally. Worrying about compensation is an additional stressor that can be avoided with proper escrow fund management.
Meanwhile, intended parents are dealing with the uncertainty of the legal process, legal and medical fees, the complex emotions accompanying fertility issues, and the overall stresses of pregnancy and welcoming a child. There are an incredible number of providers and bills involved throughout the process, which may take up to two years to complete. Managing all of these bills and providers can be incredibly overwhelming for intended parents, plus consider the ramifications if a mistake is made!
In an independent surrogacy arrangement, it is important that all parties trust each other, and escrow is one way to ensure that happens. Escrow acts as an intermediary between the two parties, with funds deposited into an account held by the escrow company.
How does escrow work in an independent surrogacy journey?
The intended parents are responsible for paying the surrogate’s fees and reimbursing all pregnancy-related expenses for the surrogate before and after the birth of the child. The escrow company holds the money in a secure account until it’s time for payment. This ensures that the intended parents’ money is safe and that the surrogate receives the appropriate amounts agreed upon under the terms of the surrogacy contract.
The escrow company will distribute payments and ensure that all payments are made on time. They will also ensure that any additional expenses related to the surrogacy journey are handled in accordance with the contract.
A surrogacy escrow company can provide peace of mind for both the intended parents and the surrogate. It is essential to have a trustworthy, experienced escrow company managing the funds in an independent surrogacy arrangement.
What are the benefits of using escrow in an independent surrogacy arrangement?
When considering independent surrogacy, using a surrogacy escrow service can be a great tool to ensure both parties are protected throughout the process. Escrow offers numerous benefits that will benefit both the intended parents and the surrogate in this type of arrangement.
First and foremost, escrow provides security and protection for all involved. When using escrow services, both the intended parents and the surrogate have the assurance that all money related to the surrogacy journey will be handled securely and appropriately. Both parties can rest easy knowing that their funds are securely held and tracked through an impartial third party.
Escrow also provides transparency between the two parties. The service allows for open communication and accountability from both parties and ensures that the payments due to the surrogate are paid on time. This allows the surrogate to feel secure, knowing that her payments will not be delayed or withheld for any reason.
Additionally, escrow services provide assurance for the intended parents as well. The security of having funds managed by a third party will provide peace of mind that their investments are safe and handled properly. It allows them to see exactly where their money is going and how it is being used.
Overall, using escrow services in an independent surrogacy arrangement can be a great way to provide security, transparency, and assurance for both the intended parents and the surrogate. The use of escrow can help ensure that all parties involved in the surrogacy process are treated fairly and that everyone’s financial interests are properly managed.
How do I choose a surrogacy escrow company?
Choosing the right surrogacy escrow company is an important step in your independent surrogacy journey. It’s essential to find a reliable, professional, and secure provider that understands your needs and provides a smooth and transparent process for you.
When selecting a surrogacy escrow company, it’s important to research the different options available. Consider their fees and services offered, as well as their experience and customer service. Make sure they have experience with surrogacy and that they understand the complexities of the process. Check references, read reviews, and speak to other surrogacy professionals who may have used their services in the past.
Finally, it’s essential to make sure that the surrogacy escrow company you choose can provide a comprehensive service that meets all your needs. This should include providing support throughout the surrogacy process, from start to finish. Ensure that they offer secure payment solutions, fast transfers, and review supporting documents before releasing any funds from the escrow account.
What services does SeedTrust offer for independent surrogacy arrangements?
SeedTrust offers a secure and reliable surrogacy escrow service tailored to meet your needs. Our experienced team of surrogacy escrow specialists are committed to providing the highest levels of service, making sure that you have the necessary funds available to cover all expenses throughout your surrogacy journey. We also provide a secure escrow platform and fast transfers, so you can access your account whenever you wish.
SeedTrust is a comprehensive surrogacy escrow service provider with the experience, knowledge, and expertise to ensure that your independent surrogacy journey is as smooth as possible.
- Experienced in managing over 10,000 cases
- Specializes in surrogacy escrow
- An independent third-party escrow fund manager with no conflicts of interest
- Bonded with a $40 million bond that fully protects escrow funds
- Verifies receipts and supporting documents to ensure they match all requests
- Compares all requests against legal contracts
- Our custom online portal is available 24/7 to check your Trust Account Ledger (updated in real-time)
- Creation of a Scheduled Payment Calendar that schedules all non-contingent disbursements
- Multiple funding options, including e-checks, credit cards, and wire transfer
- CPA, Attorney, and Banker on staff as active stakeholders
- Our dedicated team of Legal Managers remains consistent throughout your journey
- Our committed Surrogate Escrow Guide ensures your surrogate’s onboarding and escrow experience is stress-free throughout the journey
At SeedTrust, we aim to make your independent surrogacy journey as stress-free and successful as possible. We are committed to providing clients with the highest quality service and support every step of the way.
Our experienced and qualified escrow company removes any financial risk and stress, allowing everyone involved in your journey to focus on what really matters — building your family.
To get started with escrow for your independent surrogacy journey, contact Abby Helmuth at (414) 839-2845 or submit a request for a consultation!