What are some benefits that come with adoption?
Although the main benefit of adoption for you may be the addition of a child into your life, there are many others that your attorney will need to discuss with you, so you get everything you’re entitled to. Some benefits are provided by the state and federal government, so the child doesn’t have any unexpected needs unmet. For instance, if you request the monthly adoption maintenance subsidy, your adopted child may be entitled to $417 per month in both Flagler or Volusia Counties.
If your adopted child used to receive Social Security Income and your financial situation allowed this to continue, then the SSI will be deducted from the $417 subsidy paid.
If you’re interested in participating in an adoption home study to help with the costs of adoption, you can earn up to $1,000 per adopted child. The Adoption Program provides this award to you to help cover non-recurring costs that you’ve accrued, like the legal fees or court costs for your adoption case.
One of the most important exemptions to know about is the waiver of college tuition for finalized adoptions. According to the Community Partnership for Children, a college tuition fee waiver is given to a child when the adoption is finalized. The waiver can be used at any Florida-based university, vocational school or college as long as it is state supported.
To help offset the cost of adoption even further, remember that you could be entitled to a tax credit for your child. Any reimbursement from your employer for your adoption-related expenses is also deductible on your taxes, so you can make a savings on your tax return.
Source: Community Partnership for Children, “Adoption Benefits,” accessed Oct. 27, 2015