Forever Families Through Adoption

An evening at the Wainwright House

Adoptive Parents

How Much is it Likely to Cost? / How Long is it Likely to Take?

Obviously, the fewer restrictions you place on your “dream child,” the shorter your wait time will be. A 2006 survey of readers of Adoptive Families magazine indicated that almost 60% of those responding had waited less than 6-months after preparing their personal information for a birth mother match — over 80% of them waited less than a year.

And almost all of the babies involved in those matches were either already born or born within 3 months of the match. Less than a third of the survey respondents had to work with more than one birthmother before successfully adopting.

The domestic adoption process, from orientation meeting to state-mandated post-placement services is estimated to cost between $30,000 and $50,000 plus. Some of the expenses are within your control — for example the amount of money you choose to spend on  advertising to find a birthmother with whom you would like to work — although most are not. We will gladly forward you the Fee Agreement that you will be asked to sign once you decide to move forward with FFTA.

There are a number of ways you can ease the financial burden of adoption. There are loans and grants specifically designed to help families afford the adoption process, and the IRS allows eligible taxpayers a tax credit to offset much of the expense.

From: IRS  Rev. Proc. 2013-35

Adoption Credit. For taxable years beginning in 2015, under § 23(a)(3) the credit allowed for an adoption of a child with special needs is $13,400. For taxable years beginning in 2015, under § 23(b)(1) the maximum credit allowed for other adoptions is the amount of qualified adoption expenses up to $13,400. The available adoption credit begins to phase out under § 23(b)(2)(A) for taxpayers with modified adjusted gross income in excess of $201,010 and is completely phased out for taxpayers with modified adjusted gross income of $241,010 or more. (See section 3.19 of this revenue procedure for the adjusted items relating to adoption assistance programs.)

Adoptive Families magazine offers a guide to many of the credits, benefits, subsidies and other resources that can ease the financial burden of adoption. In addition, the American Academy of Adoption Attorneys has compiled a list of adoption resources including grants, loan programs, subsidies and general financial information to assist in financing an adoption. Also check out Resources 4 Adoption.

As tax laws change yearly, please be aware that FFTA does not give advice on tax issues. Please contact your financial advisor or CPA regarding any adoption credits or write-offs that you may or may not be eligible for according to the current state or Federal law.

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What's New At FFTA?

Rye Brook Adoption Agency Hosts Annual Food/Wine Tasting and Silent Auction Event at Wainwright House in Rye, NY In support of Forever Families Through Adoption and honoring Lisa & Brendan McKiernan

On October 22nd, Forever Families Through Adoption, Inc. (FFTA), a NY and CT-authorized non-profit adoption placement agency and resource center based in Rye Brook, hosted "An Evening at Wainwright House," its seventh annual gourmet food tasting and silent auction event in support of the work done at FFTA and honoring locals Lisa & Brendan McKiernan. Generous local sponsors and auction item contributors were vital to the evening's success.

FFTA's Executive Director, Joy S. Goldstein, LCSW, ACSW, who co-founded the agency in 2007 with her husband and adoption attorney, Michael S. Goldstein, Esq., LCSW, was inspired by the generosity and dedication of attendees, journal donors, community volunteers and contributors. "These collective efforts continue to enhance our ability to sustain and expand our outreach and education efforts in the community for which FFTA receives no fees," said Mrs. Goldstein.