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College Expenses: Do Not Leave Out This Term in Your Divorce Settlement

Posted on in Divorce

CA divorce lawyerOne of the things people want in a divorce is finality. They do not want to go back in front of a judge or sit down at the negotiating table years or months after being officially divorced.

This desire is one reason that hiring an attorney is critical. When you are hiring an attorney, you are hiring someone who will foresee issues that your or your ex cannot.

One area that could disrupt the finality of your divorce is how college expenses of children of the marriage are to be paid. This is an area that might bring the parties back into court or could cause conflict between exes.

What to Include in Your Agreement

If you and your spouse are able to agree on how college expenses should be handled, there are a number of items that should be spelled out. If a judge is issuing an order, be sure that these elements are brought before the court and addressed in the order itself. Either way, the document will be binding between the parties for years to come.

The most obvious term that must be included is who will pay and in what amounts. The document should also detail if the parties will be paying into a college savings plan over time or if the tuition money will become due when the child enters college.

The agreement should also detail what this money can be used for. Tuition, books, room and board, extra meal plans, dues for clubs, laptops and cell phone bills are all commonly covered but need to be put into writing. Keep in mind that most child support orders only last until the child reaches age 18. It may be possible to extend the order if the child is enrolled in college.

Another thing to agree on is what happens if the child does not go to college, gets a scholarship, takes a gap year or studies abroad. Finally, divorced spouses should educate themselves on how remarriage may impact a child’s ability to qualify for financial aid.

Contact a San Jose, CA Divorce Attorney

If you are concerned about determining how college expenses will be divided post-divorce or worry about any other situation that may arise in the future, you should contact a skilled San Jose, CA divorce lawyer. There are numerous considerations for divorcing couples on these types of issues, and there are also multiple plans that may make sense for your family. An attorney can help you think through these topics while bringing decades of family law experience into the decision-making process. Call 408-288-5592 today to learn more about your case.

 

Source:

https://www.cnbc.com/2018/08/10/you-have-to-plan-for-your-kids-college-when-you-get-divorced.html

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