Adopting a Child

Adoption is the start of a whole new set of responsibilities, and a whole new person who depends on you. Once the joy settles, a handful of decisions make sure your child is cared for and provided for no matter what. And like every milestone, it’s not just the adoption, it’s all the stuff attached to it. And remember, every path is unique; these are suggestions, not advice.

Make sure they’re always cared for

• The biggest question a new parent can answer: who raises your child if you can’t?
• Update your Will to include your child and name a guardian and a back-up guardian, the person who’d raise them if you couldn’t.
• Add your child to your beneficiary designations on accounts and insurance, so they’re provided for.
• If your own finances are changing too, it’s a good time to make sure your Power of Attorney is current.

Plan for their future

• Open a 529 plan to start saving for education early.
• Look at increasing your life insurance now that someone depends on you.
• Consider a child rider or coverage where it makes sense.

Get set up for daily life

• Be sure to contact a family attorney for specific US and international adoption rules and regulations.
• Apply for your child’s Social Security number, you’ll need it for benefits, accounts, and beneficiary updates.
• Add your child to your health insurance; adoption opens a limited window to enroll outside open enrollment. Update your employer’s dependent care FSA elections if available to include your new child.
• Find a pediatrician and store health records, the adoption decree, and your child’s documents in your Gentreo Digital Vault.
• If your child is older, transfer school and medical records or line up childcare.
• Look into the adoption tax credit and any parenting support available to you.
• Adoption is a big transition for a child, too, adoption-competent counseling can help them settle in.

You won’t finish all of this in the first week home, and you don’t need to. Name a guardian first, and Gentreo helps you handle the rest as your family grows.

More holding them. Less worrying.

Gentreo is not a law firm or a substitute for a law firm or attorney or an attorney’s advice. Gentreo provides self-help services at your specific direction.