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College Expenses and Separation

In Parenting, Separation & Divorce by Sarah Hink

As parents, we often go to great lengths to plan for our families’ futures. We invest money, we save, and we budget. When it comes to planning for our children’s futures, the American Dream involves providing them with opportunities we never had. This means putting our children through college. Unfortunately, separation and divorce can throw a giant monkey wrench into these plans. Separations Are Expensive In order to be considered legally separated for purposes of an absolute divorce, a couple must be living “separate and apart”. This means that the spouses cannot be living in the same home, or in separated bedrooms. Instead, they must be living in separate residences. What this means for budgeting purposes is that the family’s overall income is now paying for a mortgage on the …