My Wife and I are in the process of working out a separation agreement. All seems to be going well except for the wording on higher education. Her lawyer drafted the provision for higher education as follows: Both parties agree to contribute reasonably toward the child’s higher education based upon the respective financial circumstances of the parties at such time as she commences her higher education. The parties’ obligation hereunder shall cease at such time as the minor child becomes emancipated as outline din paragraph 14. I am concerned about who decided “reasonable.” My lawyer said a judge would decide. Does this language sound fair, and is it normal in a separation agreement? I wanted it to be worded more specific as to how much each would have to contribute to better prepare and budget for when the time comes.
Continue Reading...Mar 19, 2021