Egg Freezing and Your Estate Plan
Recently, Facebook announced that it would allow female employees to freeze their eggs as part of their insurance benefits and Apple plans to offer similar coverage in January. This practice lets women focus on building their careers without sacrificing a chance at motherhood later in life.
According to NBC News, “fertility doctors have reported a surge in demand for egg freezing since the American Society of Reproductive Medicine lifted the “experimental” label from the procedure in 2012.” Doctors explain that egg freezing is best performed when women are in their 20’s or 30’s as the eggs have a better chance of surviving the freezing process.
If you have a daughter or granddaughter, either may decide at some point to freeze her eggs. When creating your estate plan, you need to think about whether to include your unborn descendants. As advances in the medical world continue, you may wish to sit down with your lawyer and draft an estate plan with language that incorporates descendants born using assisted reproductive technology.
Failure to understand how assisted reproductive technology can affect your estate plan can be a costly mistake. Consider the following tips on how to ensure your last wishes are carried out:
- Talk to your adult daughter or granddaughter about egg freezing — First and foremost, you need to find out if your adult daughter or granddaughter has any intention of freezing her eggs.
- If egg freezing will occur, update your estate plan accordingly — If your adult daughter or granddaughter does intend on using assisted reproductive technology, you need to make a decision as to whether you would like to include her in your estate plan. Remember, the decision is ultimately up to you — your children are not entitled to receive anything.
- Be as clear as possible — When creating your estate plan, it is important that you be as clear as possible. Explain exactly how you want your wealth and property distributed — never assume your heirs will figure it out.
- Discuss egg freezing with your attorney — If you are at all concerned with how egg freezing may affect your estate plan, be sure to broach the subject with your estate planning attorney as soon as possible.
The speed at which technology evolves is staggering. The world we live in today may be drastically different from the one our grandchildren and great grandchildren will inhabit. To ensure your legacy stands the test of time and your rightful heirs are taken care of, consult with an estate planning professional at your convenience. For more information on wills, trusts and other aspects of estate planning in North or Central New Jersey, contact Alec Borenstein, Esq., at email@example.com or call 908-236-6457.