Divorce can be an extremely stressful process, and it could impact your performance at work. Even if nothing has changed, the circumstances at your employer could be such that you lose your job during the divorce. Job loss can affect the resolution of your divorce because it worsens your financial situation. It can impact a number of things in your divorce. Contact a divorce lawyer to learn more about how losing a job can affect your divorce.
Job Loss Can Affect Monetary Issues in Your Divorce
Your financial situation is considered in certain key aspects of the divorce. There are three primary ways in which job loss can be factored into the settlement or court order:
- The equitable distribution of assets depends in part on your earnings power. You may be entitled to a larger share of marital assets if you do not have the same ability to earn a living as your spouse.
- Job loss can affect spousal support. If you are the spouse who would have needed to pay support, the amount could either be reduced or eliminated while you are not working. If you have lost your job, there may be a higher chance that you are able to receive spousal support, at least for the period when you are out of a job.
- Losing a job could also affect child support. The amount that one parent pays the other is based on the respective income shares of the two spouses. Even if child support is decided now based on you being out of work, it would be subject to modification later if you were to find a job.
How You Lost Your Job Matters?
You may be more likely to gain some relief from the court if you lose your job due to a layoff. Here, you had no control over the situation. If you were terminated from your employment for cause, a court may view your situation differently. Nonetheless, any type of job loss could affect your divorce, and it is up to the discretion of the court.
Notify the Court of Your Situation
It is crucial that you notify the court immediately of what is happening. If your divorce is being litigated, the judge would need to know your situation so they can factor it into your case. If you are still negotiating your divorce with your spouse out of court, your lawyer should notify your spouse’s lawyer that you have lost your job.
Seek a Modification of any Financial Arrangements
Financial matters such as child support and alimony are always subject to modification. If you were able to show that the circumstances had substantially changed, you may be able to persuade a court to lower the amount of child support or alimony that you pay. Similarly, you could receive more money in support if your financial circumstances have worsened.
Continue to Look for a Job
The court would consider your situation and your own efforts to find employment. Even though you may want to take time off, it is essential that you make efforts to show the court that you are doing as much as you can to find a job. Whether you look for a job could be indicative of your willingness to work, and it could dispel any notions that you could be deliberately impoverishing yourself to gain a better position in divorce negotiations.
Do Not Try to Negotiate Anything Informal with Your Spouse
When you are going through a divorce, every arrangement and agreement with your spouse should be formal and on paper. You should not try to make an oral
agreement outside of the purview of a divorce settlement or negotiation. Then, it may not be enforceable in court if your ex-spouse denies the existence of an agreement or they claim that your understanding was different.
Contact the Marlton Divorce Lawyers at Burnham Douglas Today for Help with Your Divorce
The Marlton divorce lawyers at Burnham Douglas can advise you and advocate for you when you are going through the divorce process. Call us today at 856-751-5505 or contact us online to schedule a free initial consultation with one of our divorce lawyers. We have offices in Marlton and Northfield, New Jersey, and we proudly serve clients in South Jersey-Marlton, Evesham Township, Cherry Hill, Camden County, Burlington County, Northfield, and Atlantic City.