California couples seeking to have a baby know that infertility is expensive. Many couples consider surrogacy, which is also costly, so how does one finance the desire to have a baby? Fortunately, if you want to go this route, you have several viable options.
Surrogacy financing options
If you’re like most couples, you don’t have tens of thousands of dollars in savings to pay for the surrogate’s services along with implantation fees, obstetrician fees and any other expenses that develop. First off, try applying for grants to help finance surrogacy and donation agreements. Many non-profit organizations have such money available, including:
- Pay It Forward Fertility Grant
- Baby Quest Foundation
- Tinina Q. Cade Foundation Family Building Grant
- Family Foundation Charitable Trust
- Journey to Parenthood Grant
- The Life Foundation
Loans are another way to finance surrogacy. Prospective parents can choose from home equity loans, borrowing from their 401(k) plans and specialized fertility financing loans. Many surrogacy agencies allow parents to pay on a fee schedule instead of providing the entire amount upfront. You can also choose to do fundraising through a variety of means, such as using online crowdfunding platforms, hosting one or more fundraising events or selling items that will go toward your surrogacy fund. Parents need to be aware that the different types of financing available to them will also have different tax considerations.
Surrogacy planning considerations
Before embarking on this way of achieving parenthood, couples should carefully plan their surrogacy and donation agreements as the process can take a lot of time and effort. Establishing a fund for surrogacy can help pay for some of the upfront costs of creating this legal agreement.
Are you considering surrogacy? If so, working with experienced legal professionals who understand the intricacies involved with surrogacy may make the process easier.