Newton Family Law Blog

Paying your child’s college tuition after divorce

The moment a child announces they were accepted into college, especially if it’s a prestigious institution or their top choice school, is a moment of joy and pride for parents. To see how your child has succeeded and think about what their future holds is a big moment for you.

Then the panic sets in. How will your child pay for tuition? You may have a college savings account set aside already, but tuition and other hidden costs can get expensive and may be more than you anticipated. Even trickier is determining who will pay the bill when you and the child’s other parent are divorced, if it is not already outlined in your divorce settlement.

Does divorce mediation make sense for you?

In a high-asset divorce, property division can present many complex issues. If you and your soon-to-be-ex find yourselves unable to come to an agreement, consider taking contentious issues to mediation.

For many, mediation can offer a number of advantages over traditional litigation. New Jersey courts may order parties to attend at least one session, or parties may choose mediation voluntarily. However, every case is different, so be sure to discuss your situation with a qualified attorney who is proficient in handling high-asset matters in a mediation context.

Dividing a retirement fund? Follow these important tips

Many people who are going through a divorce know that it can be tough to find a mutually satisfying agreement while remaining amicable. This can be particularly true when it comes to dividing up retirement funds.

Retirement accounts can be significant assets, and dividing them correctly is crucial in a divorce agreement. If done incorrectly, you could be stuck with hefty fees, tax penalties and an arrangement that isn't beneficial for either party.

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