3 Misconceptions on Arkansas Adoption Finances

You will find no adoption advocacy or process insights here today. That would be the blog that you deserve, but not the one you need.

Batman references aside, here is a quick refute of common misconceptions related to adoption finances.

1.  I can receive a stipend for a child’s expenses after I adopt

The cost of raising this kid is costing me out the wazoo! What even is a wazoo? Why do we always say that?!… Can I get a stipend, please?

Sorry, my friend. The state will not offer a stipend to cover a child’s expenses after most adoptions.

Kids cost money. Just when you buy them that new jacket, they leave it on the school bus. But hey, they’re worth it.

A stipend is available for qualifying families that foster or that adopt through the foster care system.

What the state offers to incentivize other forms of adoption is an adoption tax credit that allows adoptive families to use money that would otherwise go to taxes, to cover certain costs of an adoption.

2. The state will reimburse me for certain adoption costs 

The adoption tax credit can only go so far as a family owes in income tax. It does not allot for any kind of reimbursement.

3. All adoptions have a $20,000+ price tag 

Every Arkansas adoption is different and the cost of each is different. For example, if you foster to adopt, you may have all of the costs covered by the state.

Price tag out the “wazoo” or no, you have options to tackle the financial aspect of adoption. If you have questions regarding this important part of the adoption conversation, let us know, we would love to help.