Focusing On Family Law – And You
You may have climbed the corporate ladder to workplace success so you could provide for yourself and your family. Sadly, family relationships can fall apart and some people in Torrance may find themselves facing divorce. If so, it is important to be aware of what how your career can impact your divorce.
In general, you do not want to change careers if you are in the middle of a divorce. It could affect how much child support and spousal support you will owe. If your new job comes with a higher salary, these obligations could increase. If your new job comes with a lower salary, you could still have to pay based on what you earned in your higher-paid career.
Sometimes we are let go from our jobs due to no fault of ours. For example, your employer may be downsizing or shutting down altogether. If this is the case, you will want to make sure you can show you are making significant efforts to find a job with a similar pay scale. If you are fired due to your own actions you may be responsible for paying support based on what you earned before you were fired.
Who earned more?
When it comes to divorce, courts aim to keep each spouse at the same standard of living they enjoyed while they were married, at least as close as possible. The higher-earning spouse may need to pay spousal support to the lower-earning spouse, at least for a while. Severance packages may be seen as replacement income as may bonuses and commissions with some proration if appropriate.
Know your rights
Ultimately, both spouses’ earning capacity will be considered when determining child support and spousal support in a divorce. It is important for both spouses to understand their rights and options in a divorce so they can make informed decisions.