This Saturday (November 17, 2012) was National Adoption Day. Adopted children and adoptive parents across the country celebrated their ability to become family, and the day also likely prompted many more to consider adoption. Adopting a child is rewarding in many ways, but it can also be expensive. Ameriprise financial advisors are available to discuss some of the following things individuals and couples should consider as they prepare to adopt:
  • Ways to help prepare financially for an adoption – from the very beginning stages of the process to bringing home a new child for the first time
  • Employer, community or government aid that may be available to families who are adopting
  • Unexpected costs that may occur during or after the adoption process
  • The tax implications of adopting a child
  • Smart ways to budget and perhaps borrow money to help cover the costs of adoption