Money plays a big part in most divorce settlements, especially when there are children involved. However, if the kids are young when the parents split, the couple might not think to assign responsibility for college tuition payments in the final divorce agreement.

Currently, a year of tuition at the average four-year public college or university costs around $15,000. At a private school, the cost is even higher -- almost $32,000. The cost of tuition is only expected to increase over time.

Many parents just assume they'll share the cost of tuition. However, it is important to recognize that mandatory child support stops when the child reaches the age of emancipation. Absent a court order to the contrary, your ex-spouse has no legal obligation to provide financial support to an adult child, even if the child is a full-time college student.

The best way to ensure that your children will be able to pay for college is to include a discussion of responsibility for higher education expenses in your divorce settlement agreement.

Generally, couples choose to take one of three paths: they either put the money in an escrow or trust account at the time of the divorce, negotiate an up-front payment or establish a legal obligation to pay tuition when the time comes. The first two options tend to be more reliable than the third.

If your divorce agreement has already been finalized, it is possible to go back to court to establish a duty to pay college tuition.

However, it is always smarter to be proactive. If you are facing divorce, make sure to discuss this issue with your attorney and then bring it up with your ex.

Source: Forbes, "Who Pays for College Tuition? Top Factors for Divorcing Women to Consider," Jeff Landers, Jan. 24, 2012