Adopting a child is a wonderful thing. You get to add a new member to your family, while providing a home for a child that does not have one. However, many people who consider adoption are unaware of the costs that can be involved. Unlike natural pregnancy, which has little to no additional costs involved, adopting a child can be quite expensive. If you are thinking about adopting a child, here are some of the expenses that you may come across along the way.
For every adoption you will need to pay for a home study to take place. The purpose of a home study is to prepare the parents for life with a new child, and to make sure that the prospective parents are a good fit. In most cases the prospective parents will have to pay for this study, along with some other fees that are involved. The costs can vary, but you could be looking at a price between $1,000 and $3,000. Adoption agencies do not want to let just anyone adopt a child, and the home study is the first step to ensuring you will be good parents.
In addition to the home study, every adoption will have legal fees associated with it. There are documents to fill out, forms to submit, and court fees to pay. Some people prefer to hire legal counsel in these situations, in which case you will also need to pay your lawyer. Legal fees can quickly add up, and become one of the larger expenses you’ll find during an adoption process.
Some families choose to be their own legal counsel, and forgo the use of an attorney in order to save money. If you are going down this path, you may want to consider hiring a Legal Document Assistant. You can contact organizations such as National Family Solutions who can provide you with an attorney or legal documents assistant to assist you with the paperwork and every step in the process. There is a lot of paperwork involved in an adoption, and it is important that they are filled out without mistakes so you can progress to the next stage in the process.
Adoption Specific Costs
Lastly, there will be costs associated with your specific kind of adoption. Depending on the type of adoption you are going through, and which agency you are working with, will play a large role in determining how much money you are spending. The costs can range wildly, from a few thousand dollars up to $40,000. It is important that you talk with the adoption agency early and find out what costs will be associated with the kind of adoption process you are going through. For example, going through a Domestic Adoption may have much different costs than an Intercountry Adoption.
Do Your Research
Before making any decisions, you should do as much research as you can. While some adoption costs are inevitable – such as the legal fees and the home study – others can have quite a large range. You will want to know what these costs are going to be before you begin the process, so that you can make sure you can afford it. Adoption is a wonderful thing, but it is not cheap. Take the time to plan out your financial life, so that when it comes time to start the adoption process, you have all of the money you need in place.