Many families that are thinking about adopting a baby tend to stumble upon foster care. Becoming a foster parent has a lot of benefits for the child and family even if a finalized adoption does not take place. Financial assistance is often times given to foster parents that could help them save for adoption.
State Costs and Fees for Foster Care Adoption
Although foster care is a federally regulated system, it is important that you contact your local city and state officials to make sure you understand all of the fees and financial assistance that come with being a family in the foster care adoption program. Generally there is a monthly allowance given to foster parents that can be leveraged for the child’s food, medical expenses, clothes, and other expenses the family takes on.
Attorney Foster Care Adoption Costs
One of the benefits of working with the foster care system is that attorney fees for a foster adoption are covered by the state or waived by the attorney that is helping to finalize the adoption. Adoptive families that have decided to adopt a child in the foster care system do have the choice to obtain their own attorney, but in most states there is an option to assist with the legal process to help reduce the financial stress on the adoptive parents.
Social Worker & Birth Parent Fees
When a family decides to adopt a baby or child through a domestic adoption agency, there are always substantial fees associated with the adoption process. Birth parents often need financial assistance with living and medical expenses, which are passed on to adoptive families. The social worker’s time and salary are covered by the adoption agency, but that is covered in the finalization, sign up, and or advertising fees that are generally listed out in some type of agreement. Foster care adoption costs are quite different and often help families get into a better situation financially to raise the adopted child. Contact your state to learn more about the fees associated with foster parenting and adoption to see if it is a fit for you.
Is there a Foster Care Adoption Process?
When it comes to costs the first step is to contact your state officials to see if your family qualifies to be adoptive parents and what the fees will be. When birth parents surrender the rights to their baby or children and they are placed in foster care, the organization will contact waiting foster parents for placement. If you have taken the steps to become a foster family you will be able to welcome this child into your home. Hopefully they are a good fit to become a forever child of your family and if not they will continue to receive adoption assistance through the state until a family is found or they age out of the system.
Can the Adoption Tax Credit be Used with Foster Care Adoption?
Yes, you can use the adoption tax credit after finalizing your adoption of a foster child. However, it is important that you read the full details from your state as there may be different criteria that impact how the adoption tax credit can be used as a means of financial adoption support for families.