PSA- for parents going through divorce

[Anonymous]

anything you can do to fully fund college 529s for your kids before the divorce is final is advised. It's amazing and sad how many previously "good" parents start to disengage after the divorce and try to avoid adequate financial responsibility. Like DH said he would fund $20k/year for college, but then college comes and DH has either quit his job or just "doesn't have the money"

So, if you're in a divorce and have a savings/investment account, make an agreement to more $100k, $200k, etc over to 529s. Or if you have no savings account, maybe agree to each fund $1000/month to a 529 account starting now and put it on automatic contribution.

[Anonymous]

I totally agree. Get that locked down. My ex refused to fund the 529 but agreed to commit to paying 50% in the settlement. Who knows if he will but at least it is in writing.

[Anonymous]

I agree. In this case a dollar in the account is worth a promise for $10 i. The future. Less stress too…

[Anonymous]

I hate to say this but also read up on the type of account that is set up and whether it is custodial, also who the primary is (can only be one adult).

My friend’s ex liquidated their child’s account. My ex had refused to contribute, even had it struck from our draft agreement (we had discussed each contributing X amount per year). I didn’t trust him as the custodian and added in a clause that half the funds had to be rolled to a new account I opened. He has not contributed any money to our child’s fund since separation and I’m very glad I have my own account (and half of what was seeded into DC’s original account).