We examined the role of couples' division of labor in the risk of union dissolution among parents of young children in Chile. We looked at whether specialization in the labor market and domestic work predicts union dissolution, and whether these associations differ by parents' marital status and mother's education. Using panel data from the Chilean Encuesta Longitudinal de Primera Infancia (ELPI) 2010 and 2012 waves, we found that specialization in the division of labor is associated with a lower probability of union dissolution among parents of young children in Chile. Unlike prior evidence for the US and the Netherlands, specialization is stabilizing for both married and cohabiting couples. However, there are differences by mother's education. Among mothers with high school education or less, specialization in the division of labor is associated with a lower probability of divorce and separation. On the other hand, among mothers with at least some college education, specialization has no advantage over equality in generating more union stability. Our findings shed light on how the interaction of couple's division of labor and socioeconomic disadvantage may create unequal economic prospects for women and their children following union dissolution.