One of the most difficult parts to adoption is working with families to help put together a financial plan for their adoption. There are many resources available and we customize plans to fit the family. Most families we work with whether they are doing an international or domestic adoption, consider a loan to get the cash upfront for expenses so they can get the process moving. Having a handle on the finances helps to move things along smoother and more efficiently.
We like to recommend a more diverse approach to financing an adoption. There is no ‘one size fits all,’ everything we do is completely customized to the family; every family, every adoption has its own characteristics, unique as the child they will bring into their lives. For that reason, it’s important to let them know about all of the resources and encourage the development of a plan. In this tip we’ll provide some basics below about how to consider loans and grants.
Most families we work with whether they are doing an international or domestic adoption consider a loan to get the cash upfront for expenses so they can get the process moving. Even though there are many differences between domestic or international adoption, either way, the cost is still what it is and establishing upfront what is possible can help instill confidence and lower anxiety for the family. Isn’t it a complex enough process, just getting through the home study and all of the paperwork? Having a handle on the finances helps to move things along smoother and more efficiently.