A college education can very well be one of the largest expenditures a parent will undertake on behalf of a child. Currently tuition for a private college education in the United States, including room and board, can run upwards of $50,000 per year. If the cost of books, spending money, clothing and other necessities is also factored into the equation, the final price tag for a four year education at a private institution could very well run in excess of $250,000. Many parents recognise the benefits of helping their children with the financial burden that a college education entails. Others, however, do not see the need to cover any of the costs associated with higher learning. If tension in this regard existed during a marriage, it will be exacerbated by the divorce. Ideally, the economic upheaval created by a divorce should not effect a child’s ability to attend college. A clear determination with regard to each parent’s responsibiliy regarding college expenses should be set forth in the divorce decree or settlement agreement in order to avoid arguments during the application process.
A divorce can result in one parent carrying the burden of college tuition alone. If a settlement agreement can be reached, it is important to detail the responsibilities of each parent for college expenses in a clear and concise manner. Generally the terms of your agreement in this regard will be honored. Remember that the costs of state schools are substantially lower than the tuition of private institutions. Therefor, a separation agreement should specifically account for the actual costs of the child’s higher education.
It is important to discuss the applicable state laws in this regard with your attorney. Some states will require each parent to contribute to college costs while others will not. Educational expenses are paid in addition to, rather than instead of, child support. (more…)
Generally, the last thing anyone wants to do following the completion of a divorce is seek advice from another attorney. Nevertheless, reevaluation in this regard following the termination of a marriage is imperative. Estate planning post divorce is necessarily different than it had been during the marriage.
Discussions with a wills and estate attorney who you trust is important during the divorce process. Many states have different laws regarding the distribution of assets for estate purposes which regulate how a spouse can inherit. In New York, a spouse can not be disinherited and retains his right to inherit from his partner’s estate until the marriage is fully and finally dissolved. Essentially, any changes in a will which limit your spouse’s rights during the divorce proceeding will not be effective. Since the laws in other states may vary, I recommend a discussion with a trusts and estates attorney whom you trust. Regardless of the applicable state laws, you might want to confer with a lawyer regarding your will during the divorce process in order to determine the steps you can take to protect yourself and your heirs from your spouse.
If a spouse dies intestate, or without a will, prior to the end of a marriage, or before the divorce proceeding has been finalized, the surviving partner is entitled to the entire estate if there are no children. Should children be involved, the surviving spouse will be entitled to the first $50,000 and half of the remainder of the estate after the deduction of expenses, debts and taxes paid by the estate. The children will be entitled to the remaining half of the estate. On the other hand, where a will is involved the surviving spouse is entitled to inherit the greater of $50,000 or 1/3 of the estate. (more…)
Generally, assets held by your children will not be included as marital property for distributive purpose upon divorce. Essentially, any property held by your offspring will be treated as any other third party asset. Issues arise in cases where parents hold property intended for their minor children without properly giving up control of the asset. Certainly, parental involvement is necessary where a minor’s property is concerned however the assets should be clearly earmarked as belonging to the children rather than remaining in the sole name of the parent.
Custodial accounts, such as those established pursuant to UGMA (Uniformed Gifs to Minors Act) or UTMA (Uniform Transfers to Minors Act), are intended for the benefit of minor children under the supervision of a custodian, usually a parent. Since the account is clearly earmarked for the child’s use and benefit it usually remains intact post divorce. Generally UGMA or UTMA accounts are intended to cover educational expenses but can be invaded for the benefit or support of a minor child. A minor usually obtains full control of the account upon his eighteenth birthday. (more…)
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Given the adversarial nature of a divorce, communications between spouses during this period can be difficult at best. Discussions about the most minor issues can turn into extensive arguments. Avoiding any form of communication with your spouse is tempting but is not always a viable option. Very often there are issues which require conversations between a divorcing couple, such as children’s welfare and home upkeep. Allowing the attorneys to handle these issues could be expensive.
Fortunately, we live in a technological age. Email allows for discussions that are fact oriented and to the point. Additionally, conversations via email are not affected by tone of voice. Comments can be thought out and edited before being sent. The downside is that all communications via email are in writing and can be used against either spouse in a divorce proceeding. It is a good idea to forward any emails that cause distress to your attorney for his review before responding. Chances are, if you feel uncomfortable about a communication, there is an adversarial edge that needs to be addressed.
Not all communications can be effectively handled via email. If an emergency occurs, especially involving children, a telephone call to an ex spouse will probably be necessary. Hopefully, in such a circumstance, both spouses will be more concerned about solving the problem than arguing. However, keeping phone conversations short and to the point is always the best option.
Whichever type of communication is chosen, keeping conversations short and to the point is beneficial. It is preferable not to discuss the legal aspects of your divorce with your spouse. If a conversation seems to be spiralling out of control, end it. In short, relay information in a concise manner and end the conversation.
