Nationwide, approximately 5.8 million children are living with their grandparents. Grandparents often end up raising their grandkids because the parents are struggling with a variety of problems, such as financial hardship, drugs or alcohol, domestic violence, prison time, divorce, and more. Taking in a grandchild can be one of the most worthwhile things a grandparent will ever do, but it can also be a considerable drain on the budget. Most grandparents are nearing retirement and did not anticipate the added expense of a minor child, or multiple children.
To help with the day-to-day expenses of raising grandchildren, there are a variety of government programs and tax benefits that can make a difference. Here are some places you can look to for help:
Financial Assistance
One of the first places to start is determining if you qualify for Kansas’ Temporary Assistance for Needy Families (TANF) program. This program offers cash assistance, food stamps, and free or low cost daycare to qualifying families. Even if your household income is too high to qualify, you may be able to secure a child only grant for just your grandchild’s support. Additionally, Kansas offers guardianship subsidies and kinship care programs that you may be eligible for. You can find out more information by contacting the Kansas TANF program or calling your county’s social services office.
You will also need to find out if your grandchild is eligible for Social Security, including benefits for children, SSI, or survivor benefits. Contact your local Social Security officer or call (800) 772-1213.
Tax Benefits
In addition to financial assistance programs, the federal government offers some tax benefits that could help you. Once such benefit is the Dependency Exemption, which allows you to deduct $3,950 (2014) for each grandchild in your care.
There is also the Earned Income Tax Credit, available to those with low to moderate incomes or the Child Tax Credit, if you earn more than you need to qualify for the Earned Income Tax Credit.
If you are working and incurring child care expenses, there is the Child and Dependent Care Credit. Further, if you legally adopt your grandchild, you will receive an Adoption Credit of over $12,500 per child. To learn more about tax credits, you can contact the IRS at (800) 829-1040.
Health Insurance
If your grandchild is in need of health insurance, he or she may be eligible for free or low cost insurance through Kansas’ Medicaid and Children’s Health Insurance Program. Go to insurekidsnow.gov for more information.
How an Attorney Can Help
If you are a grandparent raising a grandchild, you will need to meet with a family law attorney to discuss your options for obtaining legal guardianship or adopting your grandchild. Absent legal custody over your grandchild, you may not be eligible for many of the financial assistance and medical assistance programs listed above. You may also be unable to perform vital tasks like enrolling your grandchild in school or giving a doctor permission to treat them.
A licensed Kansas family law attorney will address the pros and cons of each custody option to help you determine what is best for you and your grandchild.
McDowell Chartered: Assisting Grandparent Caregivers
The Kansas Family Law Attorneys of McDowell Chartered admire greatly the grandparent caregivers that provide their grandchildren with the care, love and support they need. As such, we offer a full range of grandparent adoption and guardianship services. We also assist with all legal issues surrounding a grandparent caregiver situation. Call us today at (316) 269-0746 to see how one of our knowledgeable family law attorneys can help you!
