The exorbitant cost of higher education is causing many families to make difficult choices about their children’s future. When a couple is divorcing it is essential to carefully consider how to manage the responsibilities associated with the future cost of college or university tuition.
While you are working on your divorce agreement, consider some of the following issues:
Parents should be aware that paying student loans and tuition payments can carry tax benefits for the parent who claims the child as a dependent. Discuss this with your accountant.
An experienced divorce attorney can help you reach an agreement that anticipates future educational costs. For more information call the Buffalo Law Offices of Randy S. Margulis at 716.886.9600 or contact us online.
As a Buffalo divorce lawyer for 28 years, I have devoted myself to solving the problems that affect families throughout the Buffalo metropolitan area and Western New York. As a family law attorney, I make it my goal to create a partnership of trust with my clients. People put their trust in me to handle cases that can potentially have a long-lasting impact on not only their lives, but the lives of their family as well.
Alexandra M. Rockwood is a Senior Associate Attorney with the Law Offices of Randy S. Margulis & Associates and has been with the firm since early 2020. She primarily practices in the areas of matrimonial and family law, including divorce, child custody, and child support. Alexandra is a practicing matrimonial and family law attorney as…