Can we get some adoption assistance/advice/helpful hints???

Question

My husband and I want to adopt a baby. Our insurance will reimburse us up to 2,200$ and I know we can be eligible for up to 10,000 in a tax credit but that doesn't come uptil after you have adopted. We are finding that adopting can cost 20 - 35 thousand dollars. Is there a way that is not so expensive? We are able to afford more children but we cannot afford those types of adoption exspences. We are looking into the foster children but I would also like a baby and there are no babies available unless you are a foster parent and emotionally I can't handle children cycling in and out of my home. I get too attached. How can we adopt without going bankrupt?

Answer 1

I know of someone who adopted three newborns, within 2 years, from their counties foster-to-adopt program. They stipulated that they would only accept placements that were cleared for adoption.

I think you can work with your DHS on what placements you are willing to accept.

Answer 2

You really need to go through a non profit agency in order to do this with out going bancrupt. A Link Adoption here in North Carolina is amazing. I was a birth mother and they helped me place my child and I saw how amazing they were fo the parents. All you pay is a small fee for your book and the attourney cost to adopt the child. The agency never gets paid a dime. Try to see if you can reach Amy Miller she is wonderful and can point you in the right direction.

Answer 3

If you are wanting to adopt domestically and you want a newborn or an infant,  you need to contact a non-profit agency.  Our agency fees were based on our income, also referred to as a sliding scale fee.  We adopted two children for less than the amount you quoted in your question.

The adoption tax credit increases every year and for the 2007 tax year, it will be $11,390.  But, you're right, you can't claim the credit until after the adoption is finalized.  One option is going to your bank and asking for a personal loan in the amount of the adoption.  You can make payments on it until you get the credit, then pay on the loan with the money refunded to you.

Also, you can do fundraisers, have yard sales, sell things on e-Bay - anything to help out financially.  That's what we did and it helped a lot.

Good luck!

Answer 4

Anyone who understands adoption, and the expenses associated with it, would not judge your comment about the tax credit.  Adoption is expensive and all potential adoptive parents express concern or frustration over the expense.  

You mentioned that you want an infant and do not want to explore foster care.  Have you spoken to anyone in the foster care program in your area?  There are babies available (a friend of mine just adopted a baby thru foster care and my son's bio-sister was adopted thru foster care as a baby).  Babies with special needs are available thru foster care and don't let the term "special needs" scare you.  My son is considered "special needs" and he does have a life-threatening condition, but it is manageable and he looks "normal".  Babies with diabetes are considered special needs - if that helps.

Another suggestion I would have is to tell everyone you are interested in adoption.  That is how we met our son's bio-family.  Our neighbor knew we wanted to have a family and knew someone at work who was looking to make an adoption plan for a child.  She put us in touch and we did an identified adoption thru an agency - much cheaper than the $20-$35 thousand you refer to.  You could also go through an attorney if you prefer but because of certain circumstances for us, we were referred to the adoption agency.  

Good luck to you.

Answer 5

I can only hope that if you end up adopting a child that you love the child and not just consider them as a Tax Credit.  I AM ADOPTED MYSELF and have never even heard of this.

Answer 6

If you want a newborn baby that will be very expensive as you have researched and it is a hard and long wait because everyone wants a "baby".  If you adopt a child that is already in foster care (at least in my state) then there is no charge, just court costs.  If you want an older child such as 3 years and up then that is the way to go.  Check with your social service office they have all kinds of info on adoption domestic and iternational.  Only thing about adoption through foster agency is a lot of the children have had something tramatic happen in their life (abuse, neglect, etc) they need a lot of love and a lot of them end up staying in the system until they are of "adult" age (18).  Kind of sad.  I looked into doing this as well...kind of like saving a life...giving them something that they always dreamed of having ya know?  Hope this helps and good luck.

Answer 7

Look into fost-adopt programs.  In California, this means you would be placed a child that may already have his/her parental rights terminated or it is expected easily.  There are agencies that work with these type of adoptions thru the state.  You would really not be considered a foster parent as you are fostering only until the adoption is completed.  The fees are low and there are many kids.

*  International adoption is costly.  There are many fees involved with our government & the other countries, plus travel expenses.    You would really have to go country by country to find an affordable program.  Our international adoption cost approx $21,000 from Taiwan.  

Fost-adopt identifies children early.  Many people have no difficulties at all.  

And for the tax credit comment.....It would never pay off to adopt any child just for the tax credit!  What do you think they would give you versus what it cost to raise a child?  That's just crazy.

Good Luck.

Answer 8

You should be able to take out a loan for most of the adoption expenses.   Many banks and credit unions will give unsecured loans for this purpose.    Yes, it can be a large monthly payment, depending on the rate.  But so is a car loan these days.  And I'd rather have a new child than a new car any day of the week!