Families need to have 80 K before adopting a Chinese child. Does that inc the 20 K it costs for the adoption?

Question

Families need to have 80 K before adopting a Chinese child. Does that inc the 20 K it costs for the adoption?

Answer 1

where is that figure from? It costs a ton for any overseas adoption....yes....though I haven't heard of more than 60,000 for any adoption....including travel expenses. Personally, I would rather spend that money on my child's needs and education/savings....but some simply want a chinese/guatemalan/etc. child. Your choice....any child is a wonderful blessing.....but choose your agency wisely....good luck!

<<mommy through foster care.

Answer 2

Your total net worth has to be 80K, you have to make 10K per person in the family including the child to be adopted (so minimum 30K) per year.  This does not include the 20+K that you pay for the adoption, as it is money either you have spent or owe (if you take out a loan to cover adoption costs).  Basically you need to have property amounting to 80K more than what you owe.  So if your house is worth 200K but you still owe 160K on it, you only have 40K net worth.  

Make sense?

Answer 3

You do not need to have $80,000 in savings to adopt a Chinese child.  The policy is that your net worth has to equal or surpass $80,000.  This includes equity in your home, the value of your car, and other assets and possessions.

The adoption itself does cost around $20,000, and you will need to have that much money available to pay for it.  Do shop around for an agency.....some charge MUCH more than others.  You really should not be paying any more than $20,000.   Here are three agencies that are around that amount:

www.chinesechildren.org

www.cawli.org

www.hfsadopt.org

Answer 4

As other posters above mentioned, the 80K covers your total net worth.  Don't forget to include the possessions in your home (they go by the amount your renter's/homeowner's insurance will cover), any investments, the value of your car (minus what you still owe), etc--it's not just the amount you have in the bank.  You usually find out that you're worth more than you realize;  we certainly did!

Answer 5

You need not have that much cash, just an amount of income equal to atleast $10,000 per family member, including the child to be adopted (and there are also net worth requirements now as well).  

It does not include the adoption fees, no-because it is your income and/or net worth.  You can not subtract  the adoption fees from that.