Divorce - worried about the impact of divorce on your children’s school fees?
Are you worried that a forthcoming divorce may mean a diversion of funds from payment of school fees?
Many parents pay school fees from income. When a marriage or partnership is in difficulties, it is sometimes a problem that one parent places more value on the children remaining in privately funded school, than the other parent. Until recently the courts would not make an order for the retention of a capital sum so that school fees could be paid. A recent court decision has changed that, and the courts will now order that a reasonable sum, if it can be afforded, should be kept intact so that a child need not change school particularly the child is at a stage in schooling (perhaps approaching GCSEs or A levels) when a change might be very damaging.
As long as the capital sum is safely invested then this may be a solution to the difficulty of ensuring that, whilst all children are affected by the separation of their parents, they may hope to continue to go to familiar schools. Schools also often offer a discount for a payment in advance, which the parents or their advisors should explore.
Hazel Wright
Partner, Family
