Legal Question in Family Law in New Jersey

Interpretation of shared expenses

In the Dual Final Judgment for Divorce ann Property Settlement and Support Agreement , the following is stated

under HIGHER EDUCATIONAL EXPENSES:

''The parties agree that to the extent the child is

able, the child shall be entitled to a college

education. The parties agree that they shall consult

with one another and the child concerning the proposed

college education to choose a school commensurate with

the child's abilities and interests and the parties'

financial abilities. The parties shall share payment

all college expenses including tuition, room, board,

books, fees and reasonable transportation expenses

base on their then income and assets, provided, that

if WIFE chooses not to work, reasonable earnings shall

be imputed to her for purposes of calculating her

share of responsibility for said expenses.''

My question is the interpretation and intent of the phrase,....''based on their then income and assets...''.

Ten (10) years after the divorce one party has income and

assets of less than $50,000 and the other party has

income and assets of more than $1,000,000.

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