Recent adoption trends■ The adoption industry has evolved■ Even experienced professionals are challenged■ The adoption landscape continues to change■ There is no typical family■ Adoption has become a proactive choice that many families are making■ There are now many reasons to adopt
Reasons people adopt children1 52% infertility 24% to provide sibling for child 7% 69% to expand to adopt sibling of child a family 81% to provide a permanent home
Adoptions in the United States in 20102 53,000 foster care children 130,000 adoptions 63,500 unrelated 22,000 80% infants due to infertility
International adoption■ Children adopted from foreign countries by American parents■ Every child deserves a family■ Primarily governed by the Hague Treaty■ Children tend to be older■ Medical records, cost and travel are most significant considerations■ Processing time is not always reliable■ Programs can suddenly close■ Decreasing percentage of U.S. adoptions■ As a result, adoptions of U.S. born children are on the rise
The adoption process The Adoption Process Phase One: Pre-Adoption Phase Two: Mid-Adoption Phase Three: Post-Adoption■ Determine if adoption is for you ■ Complete application requirements. These ■ Begin new family life and activities. Prepare include: formal education on adoption your home to welcome your child, plan a■ Decide between Public and fundamentals; home study social worker homecoming celebration and finish Private adoption assessment; financial and legal documen- financial and legal documentation. tation; an autobiography, a profile of your■ Evaluate all adoption options: adoption criteria and background checks gender, geography, number of children, open or closed, child’s age, special needs, ■ Receive adoption approval from the state ethnicity, birthparent situations, budget (mandatory), the agency, and possibly from the birth family or be licensed by the state■ Select the option or options that best as a resource family meet your particular needs ■ Be selected by the birth parents, matched■ Investigate, interview and check the by the agency or attorney or identify a references of adoption professionals— child waiting to be adopted agencies, attorneys or foster care divisions ■ Possible meeting with birth family or child■ Evaluate all the professionals. ■ Agree to proceed with adoption■ Select the adoption professional that can best help you successfully adopt ■ Prepare and wait for the child’s arrival ■ Receive placement of the child ■ Receive signed consents ■ Complete post-placement home study visits ■ Finalize adoption
Important things to know about financing your adoption■ Children and money■ Average price of adoption is $20,000■ Public adoption versus private adoption■ Agency and attorney costs – apples to oranges■ Price does not have to equal cost■ Most fees are non-refundable■ Note – Special needs adoptions highly subsidized■ Good news – many financing options for every adoption
What are you paying for?■ Standard expenses included in most private adoptions■ Possible additional expenses
Government credits, tax exemptions and subsidies Employer adoption benefitsFive methods Grants of financing Loans Fund raising
Practical Tips to Avoid Costly Mistakes■ Do your homework■ Prepare in advance■ Eliminate surprises■ Be true and kind to yourself■ Understand your financing options■ Be patient with family and friends■ Recognize that you can manage much of the process
Amanda Grants biography Amanda spent two years re- Most recently, Amanda was Managing Director and Head of Institu- searching options and resources tional Client Service at Columbia Management. She was a member before beginning the actual adop- of the operating committee and managed the team that serviced the tion process. Then, while work- firm’s largest institutional clients, with responsibility for $52 billion ing full-time at a demanding ca- of client assets and $80 million in revenue. reer, Amanda went through the process, experiencing the many During her tenure, Amanda started a mentoring program for young challenges and pressures people professionals. She served on the board of StandUp for Kids, a national encounter when they decide to non-profit helping homeless and at-risk youth. And she began her on- build a family through adoption. going involvement with the Adoptive Parents Committee, a support group serving the New York Metropolitan area. Her joy at becoming a parent of an infant son confirmed Aman- Previously, Amanda held senior management positions at Babson da’s determination to help others Capital Management, Mitchell Hutchins and Oppenheimer Capital. achieve their dream of adopting She was also co-founder of Curant Associates, LLC, an asset manage-US-born children and helping those children become members of a ment client service consultancy.loving, safe and permanent families. She continued to compile re-sources and review adoption professionals. Amanda earned a BA in English Literature from Pace University and an MA in English Literature from Hunter College – CUNY. She is cur-Based on this research, and her personal experience, Amanda devel- rently completing a Clinical Certification in Adoption from Rutgersoped adoption education tools to guide people through the process University.more quickly and confidently while reducing risk and cost. These toolsform the basis of USAdopt. The organization combines Amanda’s life-long commitment to serving others with the management expertisegained during her 20-year career as a senior officer in the institutionalinvestment business.
Endnotes1. Sharon Vandivere, Karin Malm, Laura Radel. Adoption USA: A Chartbook Based On the 2007 Na-tional Survey of Adoptive Parents. Washington, D.C: The U.S. Department of Health and Human Ser-vices, Office of the Assistance Secretary for Planning and Evaluation, 2009, 74.2. 53,000 children were adopted from foster care – Elizabeth Foy Larsen, “Family ties – The nuts andbolts – and life-changing joys – of adoption.” Kiwi Magazine. October/November 2011, 74-78.