davefromnj
New Member
- Jurisdiction
- New Jersey
While married, against my ex-wife's wishes, I established a 529Plan for our daughter. I had inherited $163K, a portion of which was used to fund the plan. The value of the plan as of the date of divorce was $58K. In our original divorce settlement that was signed off by a judge, there was no mention of the 529 Plan and no discussion of how college costs were to be paid.
Fast forward 5 years later and college years about to begin. I continued to fund the plan on my own and the value has now reached $150K. My ex and her attorney are now saying that half of the $58K plus earnings since the date of divorce on that $58K (would love to know how that is calculated) represent my ex's contribution towards college. The plan is in my NAME only with my daughter as the beneficiary.
I feel since the original divorce agreement was silent as to the sharing of college costs and did not mention the 529 Plan, my ex has no right to claim any of these funds as her's.
Please advise.
Thank you!
Fast forward 5 years later and college years about to begin. I continued to fund the plan on my own and the value has now reached $150K. My ex and her attorney are now saying that half of the $58K plus earnings since the date of divorce on that $58K (would love to know how that is calculated) represent my ex's contribution towards college. The plan is in my NAME only with my daughter as the beneficiary.
I feel since the original divorce agreement was silent as to the sharing of college costs and did not mention the 529 Plan, my ex has no right to claim any of these funds as her's.
Please advise.
Thank you!