Another Question

[indian spirit]

What is the name of your state? LA

Can a judge order that the NCP continue to contribute to the college fund?
At half the rate that is currently being contributed, so that each parent is putting in half. Right now we are putting $200.00 a month into this account, so that if it is ordered than each parent would contribute $100.00.

I am even willing to stipulate to an escrow type of account so that if the child decides against college, that the NCP would get 50% of the funds back if the NCP wouldnt consider allowing the child to use this money for say a car or downpayment on a house.

Again not even sure if this type of thing is allowed or even granted.

 

[ceara19]

What is the name of your state? LA

Can a judge order that the NCP continue to contribute to the college fund?
At half the rate that is currently being contributed, so that each parent is putting in half. Right now we are putting $200.00 a month into this account, so that if it is ordered than each parent would contribute $100.00.

I am even willing to stipulate to an escrow type of account so that if the child decides against college, that the NCP would get 50% of the funds back if the NCP wouldnt consider allowing the child to use this money for say a car or downpayment on a house.

Again not even sure if this type of thing is allowed or even granted.

It is always POSSIBLE. But rarely, is it LIKELY to happen, especially if it is something that you want to set up AFTER the original custody/visitation/child support orders are already in place.

 

[StickyFingers]

What is the name of your state? LA

Can a judge order that the NCP continue to contribute to the college fund?
At half the rate that is currently being contributed, so that each parent is putting in half. Right now we are putting $200.00 a month into this account, so that if it is ordered than each parent would contribute $100.00.

I am even willing to stipulate to an escrow type of account so that if the child decides against college, that the NCP would get 50% of the funds back if the NCP wouldnt consider allowing the child to use this money for say a car or downpayment on a house.

Again not even sure if this type of thing is allowed or even granted.

Just to clairify....I only ask because you used the word 'continue'.

Is there a current order to contribute to a college fund? ( for both parties, CP and NCP)
How old are the children in question?
If no order, is the current 200/per parent a voluntary thing?, if so for how long?

 

[ceara19]

Just to clairify....I only ask because you used the word 'continue'.

Is there a current order to contribute to a college fund? ( for both parties, CP and NCP)
How old are the children in question?
If no order, is the current 200/per parent a voluntary thing?, if so for how long?

I was assuming that it was a voluntary contribution that the NCP now wants to stop.

 

[indian spirit]

No not divorced yet, and no custody or CS set up. I am asking so that I will know how to budget and such. Children are young. Initially we both agreed that we needed to start a college fund, in case they wanted to attend, and if not we had discussed, the option, of them using the money for a car, house or us taking a cruise.

It was just $100 a month, but when we had the second child and started another, it was $100.00 in each.

But as sometimes happens, good judgement falls to the wayside in divorce and custody battles. With that being said, the accounts are set up at a bank, with a title of College Fund, and accrues interest as such.

A judge wouldnt make us split that as part of matrimonal funds since it was originally set up for the children? The acounts have each of our names, for said Child. That thought just occured to me as I was thinking about a long drawn out fight in court... lol

We are currently living apart, and he decided today that he wasnt going to put the $25.00 in their accounts as he normally does each week.

We are not positive about a divorce as of yet, just need some seperate time, in the hopes that we each see the errs of our ways. I am not without fault in our failed relationship, and its my hope that 2 months apart will remind us of why we married in the first place.

 

[ceara19]

The judge would not order the account to be split between the 2 of you if you BOTH agree to leave it as is.

Since the account is already in place, there's a chance that the judge could go ahead and order that the contributions continue IF the incomes can support it. There are many different types of college funds, so you should look into which one would be best for YOUR situation. Each one is a little different as far as HOW the money can be spent.

I set up an account for my children using the child support. (It's NOT a regular amount of money that I could count on, so I figured an account for the kids would be best.) They can access the money at ANY time with my permission (for things like a car) or they can use the money for ANY type of college expense (including transportation and off-campus housing) w/o permission, as long as they maintain an acceptable GPA. So far, they each got a little money from the account to spend as they pleased when we went to Disneyworld.

I also have a college account set up that I contribute to. It can ONLY be used for college expenses. Otherwise there are tax liabilities, so at least ONE of them had BETTER go to college!