The cost of raising children can be staggering, even for families with high assets. When a marriage ends, the financial burden of private school, college and extracurricular activities can be particularly daunting. Who will pay for these expenses post-divorce?
The law does not automatically require parents to pay for private education or college expenses
The court considers several factors when making decisions about educational costs:
- The child’s academic history and potential
- The parents’ financial resources
- The child’s educational needs
- The standard of living the child would have enjoyed if the marriage had not ended
When it comes to private school tuition, the courts typically consider it a discretionary expense, rather than a necessity. This means that the non-custodial parent may not need to contribute to these costs. If the parents had previously agreed to enroll their child in a private school, the court may take this into account when determining child support.
Extracurricular activities like sports, music lessons, or art classes fall into a gray area. While these activities are essential for a child’s development, the courts may not consider them a necessity. Still, the courts may order the non-custodial parent to contribute to these expenses if they are deemed reasonable and in the best interest of the child.
College expenses present another challenge. In general, the law does not obligate parents to pay for their child’s college education. If both parents agree to contribute, they may include this in the divorce settlement, and it becomes legally binding.
Legal guidance can pave the way to a smoother transition post-divorce
High-asset divorces often involve complex financial arrangements. Trusts, investments and property divisions can all impact educational funding decisions. A skilled attorney can help families craft a comprehensive plan that covers all aspects of the child’s education.
