My wife and I are divorcing after 15 years of marriage. We have 2 children 14 & 10. We own a condo and had pulled the equity out of the property earlier this year, about $100k, and it is sitting in a savings account earning interest (about $400/mo.). I have $75k in 401k and she has $16k in her retirement accounts. We currently rent out the condo we own together, currently at a loss of $200/month. We are ok with the loss as it helps us pay down the mortgage. We live in a larger home that can accommodate the children at $800/mo rent to a family member. The children both go to private schools and we would like to continue their education in that manner. I make about $80k she just started a new job and now makes about $25k. We have $16k in combined debt. We agree on the custody of the children, kids stay with her and I get full visitation. We agree we each keep our own vehicles. I agree that I would take on the entire $16k debt and pay for her $800/month in rent. We agree that the interest that the $100k earns may be used to help pay down our debt (currently at 0% interest) I agree to pay for the kids private school & health care. She agrees to cover legal fees, kids books, fees, medical co-payments, medicines and such. Retirement accounts would be split 50/50. My questions are these: Is paying for private school considered child support? Is paying for kid’s health care considered child support? Is paying for her rent Alimony? We want to keep title to the condo under both our names & possibly include the children. Should we change the title of the property? Since I make more income, should I claim both children in taxes or just the youngest? I need a place to live & we don’t like the idea of throwing money away in rent for a second location. We are considering using $75k of our $100k as a down for a bank owned property where we will both hold title. We want to have our children inherit our properties. What are your thoughts?