My medical will cover me having a baby, but not adopting one. What do parents who want to adopt, but don't have an extra $50,000 plus do. I'd rather spend the $50,000 on the childs needs, not to purchase them.
2006-06-13 13:59:43 · 4 answers · asked by #1 auntie 2 in Pregnancy & Parenting ➔ Trying to Conceive
Adoption is not free or cheap, yes, it does cost money.
There are some subsidies you can apply for through your state. Call your state or county child welfare system to ask about these.
Also, there is currently a $10,000 tax credit for people who have completed an adoption. This amount comes off your Federal tax return ($2000 each year for up to 5 years). You just have to prove that your expenses totaled $10,000 or more, and then you can file for the credit.
So for people who adopt (and your insurance doesn't cover an adoption), this tax credit amounts to about the same thing as a lot of insurance plans that cover prenatal and labor costs. Pretty cool!
At any rate, there is no such thing as an adoption that will cost you $50,000. That is WAAAY too high. Expenses in an international adoption totals between $10,000-$30,000, sometimes less. Domestic adoption expenses are probably about the same or even less.
2006-06-19 08:27:16 · answer #1 · answered by ABBMAMA 4 · 1⤊ 0⤋
Adoption is an interesting process.
You need to check out a lot of options.
If money is the biggest concern then I'd suggest looking at international adoptions -- Chinese in particular. First, you are adopting an orphan. Second, the process is very cut and dry. There are no surprises (usually). Find an agency which is very reputable and preferably does just one type of adoption. For this reason I would suggest Great Wall China Adoption. You won't be spending $50,000 for the adoption.
I've used this agency for one completed adoption and now using them for a second adoption.
2006-06-16 09:03:37 · answer #2 · answered by sir_galahad_ks 4 · 0⤊ 0⤋
i know adoption isnt cheap but you cant put a price on kids. i know what you mean because that is ALOT of money but if you really want a kid that money is nothing, and it will be nothing compared to being able to give a child a home and parents that they never had to begin with.
2006-06-14 03:24:21 · answer #3 · answered by kkds14 3 · 0⤊ 1⤋
adopting children is free, and wants you do that the child is yours, so the insurance will cover.
2006-06-13 14:45:27 · answer #4 · answered by aHryze 2 · 0⤊ 3⤋