Negotiating College Costs During a Divorce | Allan Brandon Tise PLLC, Attorney at Law
- Each of you should contribute a specific amount
- Each of you should contribute a specific percentage
- Community colleges
- In-state public colleges
- Out-of-state public colleges
- Private colleges
- Online colleges
- International colleges
Note that many parents have very different and strong opinions about college. Don't let your former spouse assume that the child will attend their expensive alma mater; include the type of school in the agreement or limit the financial obligation to the cost of a particular type of school such as “…four years tuition, room, board and books at UNC-Chapel Hill”.
- Books
- Study equipment
- Accommodation and food
- Trips
You may or may not set a definite figure for the college fund. If you decide on a figure, do your calculations carefully so as not to leave anything out. Don't forget that college expenses tend to increase with time. You also have the issue of inflation to consider.
For example, $160,000 might be adequate for your perfect college today, but there is no guarantee that the same amount will be adequate years from today. The younger your child is, the stronger this uncertainty factor will be. What happens if the amount saved turns out inadequate? Do you downgrade schools or top up the money? Clarify such issues.
Lastly, you should also agree on what happens in case one of you breaches the agreement. Say you agree to contribute a percentage of your income, but the other parent reduces their percentage after their income rises.
You should not have to take each other to court over the issue, but court intervention might be inevitable if dealing with a difficult ex-spouse. To address such a possibility, you should agree that the person who breaches the agreement must pay the legal fees.
Allan Brandon Tise, PLLC, can help you negotiate your divorce agreement.
Contact us
for a consultation to ensure you get a fair and legally binding agreement.
Phone: 910-251-9614 | Email: brandon@tisefamilylaw.com | Address: 130 N Front St., Suite 201 Wilmington, NC 28401
Areas we serve: Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach, Hampstead, Burgaw, Surf City, Landfall, Porters Neck and Wrightsboro
