All loving families who want to should be able to open their arms to a child, and financial hurdles shouldn’t stand in their way. The adoption costs vary depending on factors like your state laws, birthmother expenses, legal requirements, home study expenses, and other necessary fees. It is no surprise that adoptions can be expensive, but there are also ways to make use of adoption financial assistance options to help you complete your family.

Employee Benefits

Many employers provide benefits for employees who adopt. These benefits may include leave when a child arrives in your home, assistance with adoption information and referral services, and reimbursement of adoption expenses. If you are not sure whether your company offers adoption benefits, check with your human resource department. Even if they don’t offer any benefits, it is possible that your inquiry may lead them to reconsider their decision about the adoption benefits.

Adoption Loans

Your adoption financial assistance options can also include loans through some life insurance policies, credit unions, and banks. There is a possibility to pay these loans off with tax credit money after the adoption is finalized. Loan eligibility is determined by financial need and you need to finish a home study to apply. Marital status and your age are not important in determining eligibility.

Adoption Grants

Families can apply for adoption grants provided by many adoption foundations. Usually, the grant programs are open to all legal adoptions. Prospective parents need to finish a home study and complete a one-page application to ask for a grant. There are also some private grants available, but they are usually reserved for families that are socioeconomically challenged or for encouraging families to adopt children with special needs.

Tax Credit

Contact your tax advisor to find out if you are qualified to get adoption expenses reimbursed with the adoption tax credit. The adoption tax credit course will help you determine your eligibility to get the adoption tax credit, as well as propose some solution that works with your adoption type and financial situation.

Military Adoption Benefits

In most cases the military will reimburse you for some amount of money per child if you adopt through a state adoption agency or a private non-profit agency. This reimbursement is for active-duty personnel and it is available when you are adopting both domestically and internationally.

Adoption Subsidies

Adoption subsidies agreements must be negotiated before your adoption is finalized. The placing agency usually helps parents who want to adopt a child with special needs.