Adoption Financing

President Clinton signed into law the Omnibus Budget Reconciliation Act of 1993 on August 10, 1993. Buried among the sweeping changes in the Tax and employee benefits area made by OBRA ‘93, is one substantive change that should be of enormous benefit to the families who have adopted a child and families that are considering [...]

In her book, The Unofficial Guide to Adopting a Child, author and adoptive mother Andrea Della Vecchio, gives suggestion for affording adoption. She encourages prospective parents to be creative in finding ways to afford an adoption and also reminds that the cost of an adoption is expensive, but spread out of the course of a year or more.

In addition to the expenses that the adoption itself brings, there are additional expenses to consider when adopting a child. These should in no way be barriers to adoption, as they are part of child raising. These possible expenses should be thought about and planned for to prepare families for the future.

One of the most commonly made statements about adoption is how expensive it is. Adoption is expensive! There is no argument that it is not. There are ways in which adoption can be done with reduced expenses as long as prospective parents are willing to do a little research and put some elbow grease [...]

When my husband and I decided to buy our first home we were a young married couple fresh out of college. Jason was no older than 23 years old and I a year less. We were kids and the thought of dishing out an amount of money that had never near graced our bank account [...]

What is the Hope for Children Act?
June 7th 2001, President Bush signed into a law that increased the Adoption Tax Credit from $5,000 to $10,630 (per child, not per year). Income limits are also increased from $75,000 to $150,000. This is to encourage families to adopt and provide financial guidance for the adoption. [...]