How do we handle college-related expenses in a divorce?
For those of us with children, the single biggest expense we incur, except perhaps for our home, is paying for our children’s college-related expenses. Saving up for years to assist the children is a daunting task and an accomplishment that should be celebrated. But what happens when there is not enough money to cover the costs? How do the parents decide which school a child will attend? How much will they have to pay, if at all? Unfortunately, when divorce happens, these questions need to be addressed and answered.
Now is the time many students are receiving their college acceptance letters and decisions will need to be made shortly. If you are contemplating a divorce, it is never too early to consider how these costs will impact your life as well as the kids during and after the divorce.
Discussing your options with a family law attorney is your best bet in trying to navigate these issues.