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Paying for college after a divorce

When a Houston resident is going through a divorce, the typical issues come up including who keeps the house, property division, debt division and the like. But for those couples who have children, college tuition should also be a topic of concern among other divorce legal issues.

College costs have gone up dramatically in recent years. The University of Texas at Austin is over $26,000 each year for in-state residents. Texas A&M is over $27,000 for Texas residents, and Southern Methodist University is over $67,000 each year. These figures can take a person's breath away and show that college costs need to be discussed in a divorce settlement. These are big costs that cannot be forgotten or ignored.

During a divorce settlement, it is important to get, in writing, a spouse's agreement to contribute to a college fund. If a spouse is remarried and more children come along in the future, a verbal agreement can easily be broken. The settlement should list who will be paying for what. It can be a 50-50 split, a husband can pay for tuition, or any other situation. How much to be paid and where that money is held is also important. It can be a lump sum payment or monthly payments to an account. A payment cap may also be needed for a maximum amount a parent will contribute. And finally, requiring life insurance and disability insurance is a smart move in case a spouse dies or becomes injured before a child attends college.

A legal professional skilled in family law can help their client. Smart planning can maximize the chances that after a divorce is finalized, a person will be able to protect their financial well-being and begin their new life.

Source: wife.org, "How to negotiate for your children's college costs during a divorce", accessed on July 26, 2016

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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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