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Adoption and associated financial considerations

Deciding to adopt a child can be an exciting time in people's lives. Bringing a child into a family can be a most rewarding experience. Most people in Georgia go into the process aware of the many of the steps that need to be completed before an adoption can happen. These steps include home visits, background checks and review of a person's finances.

A social worker will look at a financial situation and determine such things as monthly income, debt load and available assets. He or she is checking to determine if the person or persons wishing to adopt have the financial means to adopt and take on the responsibility of raising a child. The average cost of adoption in the United States is $40,000.

Another option when considering adoption is adopting from foster care. An adoption through the foster program can cost less than $3,000 and may come with a subsidy to aid a family's financial position. A home visit and financial review are required to foster a child and may be repeated if a person desires to adopt a child.

Regardless of which path a person or persons choose to pursue, the adoption process may take as long as a year. This period can also be used to boost a household's financial situation. If a person is considering an adoption in Georgia, he or she may want to consult with an experienced family law attorney. The lawyer can aid in navigating the adoption process and help to ensure that the process proceeds smoothly.

Source: studentloanhero.com, "How to Get Approved for Adoption: Financial Requirements", Elyssa Kirkham, May 21, 2018

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