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Who pays for the children's college education?

When a family is going through a divorce, there are many things that need to be worked out. Property division is one of the main issues surrounding divorce, but if children are part of the family, child support and visitation can also be contentious. Children have many expenses that are associated with their care and upbringing, with college expenses being one of the largest expenses. But who pays for college when there is a divorce and mediation?

There are a few strategies divorced parents can employ when it comes to paying for college. Parents who have young children have time on their side. With an agreement worked out, parents can start saving early. Some options divorced parents may have include creating a savings plan for each child when they enter school. This typically happens after they are no longer in daycare or preschool. Also, parents may want to set aside joint assets to contribute to college expenses.

Taking into consideration what each parent can contribute to a college fund may also be a smart move. The divorced parents may also want to have the option to contribute more for a private college education if they and their child choose that option.

A legal professional who specializes in family law can help their client draft an agreement that works for their situation. They are skilled in knowing what to include in divorce agreements and how each party should be contributing. College is one of the major expenses a family will face and creating a plan for how to pay for it is important.

Working together with an ex-spouse can be difficult. There are many disputes that need to be worked through, along with the emotional stress a divorce can bring. Working out agreements together can help make sure everyone's voice is heard and an agreement is created that is fair for everyone.

Source: mediate.com, "The college education expense; how to share the 'experience'," Dr. Lynne C. Halem, January 2017

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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