planning for college expenses after divorce

Planning For College Expenses After Divorce

Every parent wants to encourage their child to continue their lives after high school by attending college and pursuing a career. However, following a divorce, the way for which you and your spouse planned on paying for your child’s education may change. Consulting with a Phoenix family law attorney at The Sampair Group can help you understand your rights and obligations regarding your child’s college tuition after a divorce.

Discussions between you and your spouse on this topic should include a full review of your settlement agreement, along with planning for potential schools that your child would like to apply to, financial aid options and alternatives, room and board, travel and other aspects of higher education and the financial responsibilities that come with it.

Paying for a child’s education is strictly voluntary on part of either parent, although one parent seeking contribution to college expenses by the other parent can file a petition with the court requesting contribution. The problem with this is that the court may order a parent to contribute to the costs of their child’s college education in an amount that exceeds what they can afford. This is where preventative measures can be taken by defining the terms for these expenses in a settlement agreement.

Your agreement should require each parent to pay a share of college expenses so that the burden of the cost does not fall on just one parent. Also in this agreement should include tax benefits that come from college expenses and how they should be allocated in the event of a divorce. These rates change annually, so be sure to make any necessary changes to your agreement as they are modified.

If you don’t have an agreement with these terms, the court may require both spouses to contribute to the expenses. To avoid this, consult a Glendale divorce attorney to make sure that your divorce agreement specifies who will or will not pay for their child’s educations, remembering to include all of the fine print. For more information, contact us today.