How does estate planning and fertility law even go together? We reached out to Rijon Charne, a Fertility Attorney and Consultant at Sunray Fertility, to find out first-hand.
“Did you know that it is incredibly important to have an estate plan because without one, the State of California makes the financial and legal decisions for the child in the case the parents become legally incapacitated or pass away” Charne explained to us.
“Without an estate plan, it could be up to the state to make these decisions and it can take a very long time for the state to rule on the decision. No parent would ever want their child to land up in the state’s care if it is avoidable.” When your loved one passes away without a will or a trust-based estate plan, sensitive information about your family and everything you own is all public. It’s simply part of the court record and accessible by anyone.
What’s worse, without a will the laws of California decide who gets what; you will have zero say. If a probate is opened, the proceeding will likely take greater than 12 months and an average will take about 8% of your estate.
What is an Estate Plan?
It is understandable that an estate plan can seem like an unhappy task but think of it instead as a thoughtful implementation of Wills, Trusts, Power of Attorney, and other important planning techniques to plan for your family’s long-term well-being and financial security, so your loved ones are protected at all times. An estate plan is made up of a will, a trust, and a durable power of attorney.
What is a will?
A will is your legal declaration, specifying your intended disposition of your property upon your passing. Your will also nominates the person you wish to act as the executor for your estate, so he/she can implement your wishes of your property. Creating a will is the first and most basic step you must take to ensure your estate is managed in accordance with your wishes.
What is a Trust?
Trusts permit the owner of property to provide for the management and disposition of property upon their passing. A Trust may be revocable, sometimes known as a “Living Trust,” or irrevocable. Both include a number of elements that define the assets held within, designate your beneficiaries, and designate a trustee to manage the trust assets and income for the economic benefit of your beneficiaries.
What is a Durable Power of Attorney?
A Durable Power of Attorney for Property (DPOA) enables you to designate someone to make financial and legal decisions on your behalf should you become unable to do so yourself, such as due to incapacity from a health issue or mental incompetency.
Protecting Your Future
Rijon started Sunray Fertility Law with one goal in mind: To make the complicated and confusing journey for new parents easy and simplified. She started in this field of law because she was diagnosed with cancer and had to freeze her eggs before undergoing chemotherapy.
After going through the stressful experience, and knowing how lonely it could feel, she made it her mission to create a place where parents could come to ask questions and get the help they needed. The journey to a family should be as beautiful and joyous as a ray of sunshine.
At Egg Donation Inc., we are proud to play a small role in helping you accomplish your reproductive goals, whether you are looking to start or grow your family. As the largest and oldest egg donation program in Southern California, we have worked with only the best and most seasoned fertility lawyers. Having helped more than 15,000 families in our 30+ years in business, assisting all of our donors and recipients through every step of the process, and finding the right lawyer for you is just one of the free services we offer. Contact us today to learn more!