Adoption is an amazing process that is able to match a loving
family with a child that needs stability, safety and nurturing. Your family will need to obtain the services
of an attorney to file the petition for adoption and get that adoption finalized.
Smith Horras, P.A. has experienced and qualified attorneys to
help you with this process. In addition,
in Idaho, there are resources available to assist with the costs if you and
your adoptive child qualify. If you are
adopting a child eligible for adoption assistance, these fees can qualify for
reimbursement after adoption finalization. Financial assistance for adoption
may be available through one or more of the following sources:
·
Adoption Assistance: Idaho
offers an adoption assistance program for eligible children with “special
needs”. Most children in foster care are considered to have special needs.
Adoption assistance can include up to $2,000 reimbursement of adoption-related
costs, a monthly subsidy for the ongoing care of the child, and a Medicaid card
to assist with medical expenses until the child is 18 years of age.
·
Adoption Tax Credit: You
may be able to take a tax credit for qualifying expenses paid to adopt an
eligible child, including a child with special needs. The adoption credit is an
amount subtracted from your tax liability. Learn more through the IRS website.
·
Employer Benefits: A
number of employers offer adoption benefits. Contact your Human Resources
department to inquire about the availability of adoption benefits.
·
Military Benefits: The military
provides active-duty personnel a reimbursement for most one-time adoption
costs. The National Military Family Association provides
further information and resources.
·
Loans and Grants: Loans
or grants are available through a variety of organizations such as adoption
agencies, foundations and banks.
No comments:
Post a Comment