Success After 50

I recently wrote this post for my company’s LGBTQA affinity group. I thought it might also be useful here. Feel free and let me know if you have any questions. 

For the purpose of this post, I am referring to the U.S. adoption system only. 

As I mentioned in a previous post, our family has been blessed to grow both through Foster and Private Adoption. I wanted to take some time to share my thoughts and experiences with you to help you evaluate if this might be an option for you in the future.

Adoption is a huge topic and there is no substitute for doing your own research, so for now I am going to limit my focus to two areas that I think will be of interest to this group. LGBTQ adoption and the law, and Tips to minimize the cost of adoption. If there are other specific questions, I am happy to go into them.

LGBTQ Adoption & the Law

I got a few questions / concerns about if LGBTQ people are allowed to adopt. The good news is, we have come a long way toward equality in this area. Here are a few points I found while researching on-line.

LGBTQ single individuals can now legally adopt in all 50 states

Adoption by same sex couple is finally legal in all 50 states as Mississippi’s ban has been overturned. 

LGBTQ adoptions have tripled since the 90’s.

The tide of public opinion and court battles seem to be favoring equal adoption rights for all.

There are some special considerations for LGBTQ couples looking to adopt internationally as not all countries allow this.

I will try to stay away from politics here but encourage everyone to look into local and national elected official’s record and position on LGBTQ issues. Keep in mind our next president will likely select 2 or 3 Supreme Court Justices.

Tips to minimize the cost of adoptions.

Unfortunately, adoption can be expensive, but it does not have to be and there are ways you can minimize your costs. Here are some quick notes that may help you.

The cost of adoptions vary significantly based on with method you use. There are advantages and disadvantages to each method, depending on your needs.

There is an awesome adoption tax credit of up to $13,400 / child for adoption related expenses. You really need to seek financial guidance about how / if this applies to your adoption but in our case it was very helpful. As with all things tax related, this could change as a result of congressional actions. Check this site for more info on the tax credit.

Be wary of fraud. We had an unfortunate situation where someone was trying to get $$ out of us to let us adopt privately from her. We were new to the process and almost fell for it. Thankfully we got some legal help and avoided much of the $ costs. This is why I am a big advocate of working with a reputable adoption agency. They will minimize your risk and ensure all parties follow the correct legal process for your location.

When selecting an agency, I would recommend you be cautious of anyone that has high up front costs. I have seen some agencies that cost $10,000 to get in the door. That $ is then spent and you are stuck with that agency. We found a non profit agency and got started for less than $1,000 and the other costs only came when the adoption finalized.

Your employer will be happy to add your newly adopted child to your insurance (just call in a life event) but birth expenses would not be covered as they were not your child at that point.

International adoptions can cost as much as $50,000 when you consider travel and other expenses

Domestic Private adoptions generally cost between $10,000 and $25,000

Adoption through the Foster care system can cost between $0 - $1000

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