Things You Should Know About Adoption
Adoption has many benefits. It will not only make a difference in the life of the child, but it can also make a difference in your own life. However, there are several things that you need to know about adoption.
You do not Need to Have a Traditional Family
Many people think that only traditional, nuclear families can adopt children. However, only half of adopted children are in a traditional family. More children are being placed with single parents, same-sex families and older families.
Open Adoption is Becoming More Common
An open adoption is where the biological family still maintains a relationship with the adopted child. The biological parents may be unable to care for the child, but they still want to have a relationship with him or her.
Patience is Required
While adopting can be rewarding; it can be a tedious process. You will have to spend a lot of money in order to adopt a child. There is also a lot of paperwork that you will need to fill out before you can adopt a child. That is why you want to go through pre-adoption counseling.
You Have to be Financially Responsible
Not only is the adoption itself expensive, but you will have to spend a lot of money after the adoption is complete. Raising both biological and adopted children is expensive. You have to be financially prepared.
You may be Eligible for a Tax Credit
A tax credit can offset some of the cost of an adoption. A tax professional will be able to tell you about how you can qualify for a tax credit. Keep in mind that there are many other ways that you can finance the adoption. For example, you can take out a loan. You can also have a fundraiser.
Call Loveleen Dhaliwal, Attorney at Law
If you need help with the adoption process, then you will need to contact us. We can help make this transition go more smoothly.