For the majority of Americans, most net worth is held in the home and/or tax deferred retirement accounts. Estate planning for the home was covered in our previous post, http://www.perlalaw.com/blog/estate-planning-for-your-home-simple-will-transfer-on-death-affidavit-or-revocable-trust/. This post will focus on planning for tax deferred retirement accounts.
What is a Tax Deferred Retirement Account?
A tax deferred retirement account is a financial account where your contributions can grow tax deferred until they are withdrawn. Traditional IRAs, Annuities and 401(k)’s… Read the rest
You own your home and want to ensure that it passes to particular loved ones upon your death but you’re not sure the best way to do it. This blog post will break down your options for you.
First, it is important to look at your deed and determine how the property is held. Often married couples have a survivorship deed. With a survivorship deed, upon the death of one spouse, the real estate transfers to the surviving spouse outside of probate. One need only record an Affidavit of Surviving Spouse with Death Certificate to effectuate the transfer. If the home is in your individual name, or you own a partial… Read the rest
Actress Sofia Vergara recently had a public dispute with her ex-fiance Nick Loeb over their frozen embryos. It has been reported that Vergara and Loeb created two embryos. An embryo is created in a lab by fertilizing a woman’s egg with a man’s sperm. When the couple parted ways, Loeb sued Vergara for control of the embryos. Loeb would like to use the two embryos to have children through the use of a surrogate, whereas Vergara wishes to keep the embryos frozen. Prior to creating the embryos, the couple had signed a contract that stated that both parties had to agree to bring the embryos to term. Should… Read the rest
In Kansas, Jennifer Schreiner and Angela Bauer, a lesbian couple, posted an ad on Craigslist seeking a sperm donor. The cost of artificial insemination can range from $300 to $700 a try and it can take four or more tries to be successful, a cost prohibitive process for some aspiring parents. Hence, the couple was likely seeking a less expensive alternative to a sperm bank. William Marotta, a married man, hoping to help the couple out, responded that he would be a willing donor.
The three signed a contract waiving Marotta’s parental right and responsibilities, the donation was made and Schreiner… Read the rest
Assisted Reproductive Technology refers to all treatments where the egg or embryo is handled outside the body.
The most common treatment is IVF (in vitro fertilization). With In vitro fertilization, the egg is fertilized with the sperm in a laboratory and the resulting embryo is implanted in the uterus. IVF can be done using the intended mother’s egg or a donor’s egg and the intended father’s sperm or a donor’s sperm. It can also be done with a donated embryo. With surrogacy, a woman carries the intended mother’s embryo.
Most fertility clinics that store the genetic material of patients seeking… Read the rest