Domestic adoption can cost anywhere from $30,000 to $65,000, making adoption a financial challenge for many prospective adoptive parents. The good news is that there is an abundance of financial assistance for adoptive parents, in the form of grants, tax credits, loans, and employer-provided adoption benefits. Adopting from foster care is a more accessible choice for many parents hoping to adopt, as it is far less expensive and comes with government financial assistance. Adoption subsidies and benefits vary depending on where you live, so it’s important to do your research and find out more about the financial assistance available in your state and county.
Table of Contents
Children adopted from the foster care system are usually eligible for financial assistance from the State and or Federal government. Although certain requirements must be met, if you are approved to adopt from foster care, you will sign an adoption assistance agreement prior to finalizing the adoption. There is also financial assistance available to help provide for the care of adopting special needs children and for adopting siblings from foster care. There are other reasons for getting assistance, so make sure to consult a local adoption attorney or agency that can help guide you through the process and negotiate on your behalf.
According to AdoptUSKids, about two-thirds of children in foster care have siblings in foster care. Children placed in foster care experience a great deal of loss and change, and being separated from a sibling can be incredibly traumatic. Although not all prospective adoptive parents are the right fit for a sibling adoption, it can be a special way to grow your family while keeping siblings together, which has many psychological, emotional, and other practical benefits for the children.
In the state of Florida, adopting a special needs child means adopting a child with a medical, emotional, or physical disability. Children with special needs are eligible for long or short-term benefits that cover all of their needs, including different kinds of therapy and medical care. Adopting a special needs child is an incredible way to give that child a safe, loving home that they may not otherwise have had.
Older children tend to wait longer to be adopted, as many prospective adoptive parents prefer to adopt infants or young children. Adopting an older child can be very rewarding for the adoptive parents and beneficial for the child, as all children deserve to be loved and cared for. When you adopt an older child, you have the opportunity to guide them through young adulthood while allowing them to attend a college or a vocational school that is paid for by the state.
There are many kinds of assistance available for adoptive parents, whether or not they adopt from foster care, including loans, grants, and tax credits. The Federal Adoption Tax Credit covers up to $14,300 in adoption expenses, which can help reduce the financial burden for eligible adoptive parents. Children adopted from foster care are usually eligible for more assistance, including student financial aid, medical coverage, maintenance support, and in some cases, reimbursement of adoption costs.
There are many adoption grants and loans available for prospective adoptive parents including The Abba Fund, which provides interest-free loans to Christian families, and the Academy of Adoption and Assisted Reproduction Attorneys, which assists individuals and non-profits. Many other foundations provide grants and financial assistance for birth mothers, including A Child Waits Foundation, which offers grants for domestic and international adoptions, and the Anna Cheri Foundation, which assists in the adoption of orphaned children worldwide.
Although there are various eligibility requirements for adoptive parents depending on the organization or foundation, it’s worth researching the options available and applying for as many grants as possible. There are millions of children worldwide in need of a loving, safe home, and with some research and persistence, you can be well on your way to making your adoption dream a reality.
As adoption lawyers in the state of Florida, we have years of experience with the adoption process. We are proud advocates for adoptive parents, birth parents, and children, and we understand the emotional highs and lows that come with the adoption journey. If you are considering adoption in the state of Florida, don’t let financial concerns stop you from exploring the possibility. We are here to support and guide you every step of the way and can help negotiate subsidies, grants, and other forms of financial assistance on your behalf. If you would like to schedule a consultation to learn more about adoption and the services we offer, contact us today.
Sources: https://www.childwelfare.gov/pubPDFs/f_subsid.pdf https://www.gofundme.com/c/blog/adoption-financial-assistance https://www.afs4kids.org/blog/adopting-siblings-from-foster-care-what-you-should-know/ http://adoptflorida.org/benefits.shtml https://adoption.org/foster-child-special-needs https://www.kvc.org/blog/benefits-of-adopting-an-older-child-from-foster-care/ https://www.adoptmatch.com/adoptive-family-financial-assistance-opportunities