What if I lose my job during my high asset divorce?

Having the financial security of a well-paying job can be extremely reassuring during difficult periods of life. Unfortunately, jobs are not always as permanent as they may seem. Losing a job during a high asset divorce is not an easy situation for California residents to find themselves in, but here are a few ways to minimize any negative consequences.

Searching for new employment as soon as possible is important for more than one reason. Not only does securing a new job translate to less financial disruption, but actively searching for work also sets a positive tone for divorce proceedings. As such, it is important to make records of all activities related to a job search. This includes keeping track of things like time spent searching employment websites, submitted applications and resumes, interviews and more. It may be necessary to provide this type of documentation to the court.

The manner in which a person lost their job during divorce can also be an important factor. For example, if the job loss was related to layoffs or uncontrollable circumstances, this should be fairly taken into account when looking at things like child or spousal support. If a person was fired for misconduct, they may be held to the same level of financial responsibility as if the individual was still employed.

It is not uncommon for some people in California to take the time following a job loss to reflect on their wants and needs for the future. This often seems like a prime opportunity to explore dream jobs based on passion rather than searching out new employment with comparable compensation. However, during the middle of a high asset divorce is not the best time to go looking for a low-paying dream job. Instead, making strong efforts to find comparable employment while maintaining a careful focus on divorce proceedings can usually lead to agreeable outcomes.

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