Cost of international adoption

dani2323 · 02-09-2003, 03:37 PM

Hi ladies...dh and I have been researching domestic and international adoption. We even met with an agency in town and discussed both. They do domestic adoptions w/my state and will work with other agencies w/international (i guess so it'd be easier on us?) I live in ND, is it possible for us to work one on one w/an international adoption agency that's located somewhere else in the US, or would we need this agency in town?

I think we're leaning towards international, for many reasons. My question is.....how to get the funds

We can save/raise a good deal of it but not all of it. Would a bank/credit union do a loan for this purpose? How does the tax credit work exactly-I just don't understand that one at all!!! Anyone in the military adopt? I've heard of a $2000 reimbursement from the military but again I don't know how that works or if it's just w/domestic.

Any info would be great!

Thanks

Lisa67 · 02-09-2003, 10:32 PM

Hi dani-

First, I want to congratulate you on your decision to look into adoption. It's a huge step and choosing between international & domestic is something you really want to research too. Both types have their pros & cons and work well for different people. We are adopting from China and couldn't be happier!

You do not have to work exclusively with an agency that is in your state. When you find an agency that you are interested in just check with them to be sure. Some agencies may only work in particular states, while others are nationwide. **Don't mark my words on that, I would just research it while you look at agencies--you'll find it on many websites.

One thing to keep in mind is, if you have an out-of-state agency you will most likely have to do your homestudy on your own (possibly with an agency that IS in your state) so you'll be looking into that aspect too. Again, the agency you choose will be able to guide you on the homestudy aspect also.

As for funds....many people have lots of ideas....from having a Tupperware party to a yard sale for fundraising. Do you own your home? If so, maybe you have enough equity to take out a loan. You could take out a personal loan too.

Yes, there is a reimbursement of $2000 if you adopt while in the military. The refund is received AFTER the adoption is complete. Here's a link to help you on that: http://leav-www.army.mil/osja/la/ado...mbursement.htm
(DH is military & we're using that too!

)

As for the adoption credit....it is for $10,000 and is for international as well as domestic adoptions. I am unsure of the whole process as I am not at that point, however I can tell you that, again, you do not receive the rebate until AFTER the adoption is complete. Meaning, you will still need to front that $10K. This link may help you too: http://www.holtintl.org/tax.shtml

A good thing to keep in mind, that is helping us with paying for our adoption, is that the cost is not all at once. There are certain stages for payments. IE, registration payment, Homestudy payment, payment after INS approval, etc.....The payments are spread out, not just one lump sum payment.

So, that's a brief rundown for you. Please let me know if I can be of further help. My best advice is to READ & RESEARCH. It's a lot at the beginning, but does get easier as time goes on!!

GOOD LUCK!