(1)    After the order of adoption is entered the relation of parent and child and all the rights, duties and other legal consequences of the natural relation of child and parent thereafter exists between the adopted person and the adoptive parents.

   (2)   After the order of adoption is entered the relationship of parent and child between the adopted person and the adopted person’s birth parents and the relationship between the adopted person and all persons whose relationship to the adopted person is derived through those birth parents shall be completely altered and all the rights, duties, and other legal consequences of those relationships shall cease to exist, unless the birth parent is the spouse of the adoptive parent, in which case those relationships shall be completely altered and those rights, duties, and other legal consequences shall cease to exist only with respect to the birth parent who is not the spouse of the adoptive parent and all persons whose relationship to the adopted person is derived through that birth parent. Notwithstanding the extinction of all parental rights under this subsection, a court may order reasonable visitation under s. 48.925.

   (3)   Rights of inheritance by, from and through an adopted child are governed by ss. 854.20 and 854.21.

   (4)   Nothing in this section shall be construed to abrogate the right of the department to make payments to adoptive families under s. 48.48 (12).