Wisconsin law does not require parents to pay any support to a child after he/she graduates high school. Separated parents can, if they wish, agree to support children after they reach majority, usually through agreements requiring payment of college expenses. This is certainly a laudable goal. However, it is difficult to plan for such considerable expenses far in the future. For example, if a parent’s income decreases, he/she will likely still be liable to pay a child’s college expenses, if the divorce or other separation agreement so states. Agreements to support an adult child, even through college, must be very carefully drafted and specified. I have included these type of provisions in separation agreements, and would be happy to consult with any parent considering this option. I strongly urge any parent considering such an agreement to call me for a discussion of the pros and cons.
- What You Need to Know About SECURE Act 2.0 - March 30, 2023
- Show Your Love by Creating an Estate Plan - March 15, 2023
- What Happens When You Don’t Trust Your Trustee – Part II - March 7, 2023