When your child was an infant, you probably did not have the financial resources to immediately put aside funds for their college tuition. But time passes quickly and now you may be concerned about how you’ll pay for it, especially if your marriage is headed for divorce or you’ve already terminated it.
Managing substantial child-rearing costs such as college tuition is a common struggle and something that a child support lawyer is well aware of. Even if your child has a few more years of school left before they enter post-secondary education, if you are working out a child support agreement, then this concern may be foremost in your mind. Call an Austin, TX child support lawyer to arrange a free consultation with a family law attorney to learn how we may be able to assist you.
Texas Child Support Guidelines
The state’s child support guidelines may affect whether or not your child’s college tuition costs can be included in child support payments provided to one parent by the other parent. This is because child support obligations end when the child turns a certain age. If the child attends post-secondary education after they reach that age, the costs cannot be included in child support because child support will no longer be a factor. Talk to an Austin, TX child support lawyer who can inform you of the latest legislation that dictates when child support for your child will expire.
Including College Costs in a Separation Agreement
Though the law may not require your spouse to pay for your child’s college education, a child support lawyer can draft a separation agreement in advance of your divorce. The agreement can include anticipated college tuition and related costs. It can be challenging to know so far in advance what the exact costs will be for your child’s college education. At the time of negotiating the agreement you may not even know which school they will attend and that can greatly affect the overall cost, specifically because tuition fees vary.
In addition, some degrees cost more to obtain than others due to textbook costs and other factors. Housing, in or out-of-state tuition costs almost must be considered. One approach to take is to establish a cap on overall costs and divide them by an equal or varying percentage among the parents and possibly the child as well.
Plan for the Future with the Help of a Child Support Lawyer Austin, TX Clients Recommend
Trying to plan for an uncertain future can cause fear, anxiety, and confusion. Life tends to be unpredictable so anticipating what your child may need years from now can be challenging at best. However, our legal team has extensive experience helping families plan for the future, and this includes negotiating agreements that consider future college education costs for children. Call us today to schedule a free consultation with a child support lawyer at the Law Offices of Ryan S. Dougay in Austin, TX who can provide you the information you need to make informed decisions.