Jon and Kate Divorce? The Money Traps Ahead

June 23, 2009
Smart Money and

© 2009 Smart Money.

On television, “Jon & Kate Plus 8” has been a ratings bonanza. But as any divorce lawyer will tell you, “Jon Minus Kate” could be a complex financial maze — with college tuition alone posing a million-dollar dilemma.

As the media spectacle of Jon and Kate Gosselin’s separation — disclosed in Monday night’s episode of their reality show – unfolds, much of the focus will be on what went awry in their marriage, the emotional impact on the couple’s eight kids and how their divorce proceedings unfold.

But as with any divorce, financial questions can present complications. In the case of an unusually large family, such as the Gosselins, those complications can be particularly tricky. College costs alone for the eight Gosselin kids could amount to upwards of $1 million, for instance. Though divorcing parents could agree simply to split the future costs of education, for a couple with many children, agreeing now how both spouses contribute to an ongoing savings plan could avoid future strife.

Please click here to read the entire story.