Cassandra Rivais DiNova and Wendy Hoey Sheinberg, of (Rivkin Radler LLP), have made available for download their article, NY’s Gestational Surrogacy Law Comes With Estate Planning Requirements, published in JDSUPRA. The abstract is as follows:
On February 16, 2021, New York state legalized compensated gestational surrogacy. The Child-Parent Security Act (the Act) imposes estate planning requirements on the intended parents.
Prior to implanting the embryo in the surrogate, the intended parent(s) must sign a will. The will must:
1. designate a guardian for all children born of the implanted embryo(s), and 2. specifically name and authorize an executor to perform the obligations of the intended parent(s) under the Gestational Surrogacy Agreement (GSA).
Taken together, these two requirements help to avoid foreseeable legal disputes.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.