Recently, The Wall Street Journal published an article about the financial impact of adopting a child. In my role as an adoption lawyer, I was interviewed for the story. During the interview, I explained the importance of making a financial plan and setting an adoption budget when looking to adopt. A budget can help avoid paying unnecessary expenses or falling for adoption scams.
In addition, there is financial assistance available to adoptive parents to help offset the cost of adopting, such as the federal adoption tax credit. Congress extended the tax credit in the recent fiscal cliff legislation and I’ve covered it in a number of prior posts on my site here and here, among others.
If interested, please take a look at the full article through the link below: http://online.wsj.com/article/SB10001424127887323452204578287961483250712.html