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Home : Planning Your Finances : Planning for Life Events : Raising a Family : Adoption
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Raising a Family
Adoption
According to the National Adoption Information Clearinghouse (a program of the U.S. Department of Health and Human Services),
current adoption expenses can range anywhere from $0 to $30,000+.1 The following factors influence both procedure
and costs with most adoptions:
- The area in which you live.
- The type of adoption (public vs. private).
- Federal or state tax credits available for adoption expense reimbursement.
- Various available federal and state subsidies for children with special needs.
- Employer adoption benefits.
Inter-country adoptions can incur additional costs and procedural requirements, such as visa application/issuance
fees, extra medical examinations, foreign agency fees and more.
If you’re going through a private adoption agency, it is important to research the agency’s credentials and licensure
ahead of time. Use of legal counsel may also be advised.
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1Cost of Adoption, August 2, 2000
Transamerica and its representatives do not give tax or legal advice. The material provided is for informational purposes only and should not be
construed as tax or legal advice. Clients and other interested parties must rely solely upon their own tax and/or legal advisor regarding their particular situation.
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