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Relationship Discussion (non-explicit)
Reply to "Divorce settlement specifics to include - s/o AP to stepmom"
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[quote=Anonymous][quote=Anonymous]Here is what I saw in a friend's MSA: The 529 plans remain the children's property and are to be spent on the education of the named beneficiary, and any leftover amount belongs to the named beneficiary. Parents agree to pay pro rata for the additional cost of a college degree. The higher earner was required to carry life insurance for the kids until the youngest was 23. Both parents split all direct costs of the kids - sports dues, equipment, tutors, car insurance, cell phones, out-of-pocket medical and dental, etc until each kid is 23—so, no lifelong or in-death commitments, but a commitment to get the kids through college. [/quote] Why do you need life insurance for the children? You mean life insurance for the adults with beneficiaries being the kids?[/quote]
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