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you and the child's father are the parent in the eyes of the state. There should not be any trouble unless your sister creates it. Your sister has no rights to the child, so there is nothing for her to give up.
Hypothetically, she could claim that the child actually is hers, in which case you would need to bring a paternity/maternity action in court to prove your parentage by genetic testing. It would be just like a dispute over who the father of a baby was, except it would be over who both parents were. Unless she does this, however, the legal side of things will not be an issue. Congratulations!
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I wouldn't characterize it as "adopting", but one can petition the court to get the mother's name changed on the birth certificate. most courts will not permit an order of this nature until after the child is actually born. Plan on taking the baby home from the hospital. You may want to hire an attorney to put the paperwork together for you, but that's a personal decision. You can basically plan on just doing everything that you would if you gave birth yourself, except that there's a bit more paperwork once it is all done.