Dear Savvy Senior , Are there any programs you can refer me to that financially help grandparents who are raising their grandkids ? I ’ m raising two of my grandchildren and could use some help .

Tapped Out Tonya ,

Dear Tonya ,

Money is a common problem for the nearly 2.4 million U . S . grandparents who are raising their grandchildren today . To help with the day-today expenses , there is a wide variety of programs and tax benefits that can make a big difference in stretching your budget . Here ’ s where to look for help .

Financial assistance

For starters , find out whether your family qualifies for your state ’ s Temporary Assistance for Needy Families program , which may include cash assistance , food benefits , utility bill assistance and free or low-cost daycare . Or if your household income is too high to qualify as a family , ask about the “ child-only grant ” for just the grandkids support alone .

Also , check to see if you ’ re eligible for foster care payments as a relative caregiver or if your state offers any additional programs like guardianship subsidies , nonparent grants or kinship care . Adoption assistance payments also are available to adopted grandchildren with special needs .

To inquire about these programs , contact your state ’ s TANF program and / or state Department of Human Services . See www . ACF . hhs . gov / ofa / map / about / help-families

for contact information .

You also need to see if your grandkids are eligible for Social Security including benefits for dependent children , survivor benefits or SSI — visit www . SSA . gov or call 800-772-1213 . And find out if they ’ re eligible for free / low-cost health or dental coverage through your state ’ s Medicaid and the Children ’ s Health Insurance Program — visit www . InsureKidsNow . gov or call 877-543-7669 .

You also can use www . Benefits . gov , the official benefits website of the U . S . government that has a screening tool to help you identify the programs you and your grandchildren may be eligible for and will direct you to the appropriate agency to apply .

Tax benefits

In addition to the financial assistance programs , there is a range of tax benefits you may qualify for , like the Earned Income Tax Credit or EITC , which is available to those with moderate to low incomes , and the Child Tax Credit , which is worth $ 2,000 per dependent child under age 17 .

If you ’ re working and are incurring childcare expenses in order to work , there ’ s a Child and Dependent Care Credit that can help . And if you ’ ve legally adopted your grandkids , there ’ s an Adoption Tax Credit that provides a federal tax credit of up to $ 16,810 in 2024 .

You also can deduct medical and dental expenses if you and your dependent grandchildren ’ s healthcare cost exceeds 7.5 % of your adjusted gross income for the year . And there ’ s even education-related tax credits that can help your grandkids go to college , like the American Opportunity Tax Credit and the Lifetime Learning Tax Credit .

In addition to the tax credits and deductions , if you ’ re unmarried , you may qualify for “ head of household ” status when you file your tax return , which has a higher standard deduction and a lower tax rate than you would filing as a single .

Legal help

If you haven ’ t already done so , you also should talk to an attorney to discuss the pros and cons of obtaining legal guardianship , custody or adoption . Without some sort of legal custody , you may not be eligible for many of the previously listed financial assistance programs , and there can be problems with basic things like enrolling your grandkids in school or giving a doctor permission to treat them .

For help locating affordable or free legal assistance , visit www . FindLegalHelp . org or call the Eldercare Locator at 800-677-1116 for referrals . Also see www . GrandFamilies . org , a clearinghouse resource that offers information on financial assistance , adoption , foster care and more .

Send your senior questions to Savvy Senior , P . O . Box 5443 , Norman , OK 73070 , or visit www . SavvySenior . org .

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