Individuals in the process of divorce will already be experiencing tremendous changes, so it is not unusual for them to use it as the catalyst for reassessing the rest of their life. Changing your job might be necessary for financial stability, but it may also represent a part of rebuilding your life and confidence. However, it is important to understand that changing your professional circumstances can affect the divorce process, as it may alter how much financial support you need or are able to give. It may also slightly delay the financial settlement as you wait for more accurate information to complete your Form E financial statement.
Individuals in the process of divorce will already be experiencing tremendous changes, so it is not unusual for them to use it as the catalyst for reassessing the rest of their life. Changing your job might be necessary for financial stability, but it may also represent a part of rebuilding your life and confidence. However, it is important to understand that changing your professional circumstances can affect the divorce process, as it may alter how much financial support you need or are able to give. It may also slightly delay the financial settlement as you wait for more accurate information to complete your Form E financial statement.
If you have a family law issue and you require legal advice to understand your options, contact specialist family law solicitor Parvien Akhtar. Parvien is an award-winning lawyer with 25 years of experience as a qualified solicitor, and has a proven track record of providing high-quality advice to her clients.
What are the financial considerations of changing career during divorce?
The court takes future earning capacity into account when deciding on a financial settlement, so it is worth bearing in mind whether your new job is going to increase or reduce your income. If, for example, you have finished training to become a bank manager when you were previously a cashier in a bank, then the court will take this lucrative hike in your earnings into consideration.
The same is true if the situation is reversed, although the court would want an explanation as to why the decision was taken to reduce income at the same time as going through divorce proceedings. As it may be viewed as a direct attempt to limit the possibility of paying spousal maintenance. In addition, if you have children, you need to ensure that your new career will still allow you to spend time with them and parent effectively, or work flexibly if you need to.
While future earnings are not treated as a matrimonial asset to be shared out as part of the capital settlement, it could still play a factor in relation to calculating spousal maintenance payments. This is typically paid on a monthly basis by the higher earning spouse for a set period of time following divorce. The length of time maintenance will be paid should be sufficient to allow the lower earning spouse to adjust to the prevailing situation without experiencing undue hardship. It will therefore depend on circumstances such as earning capacity, career prospects, eligibility for benefits, needs, resources, and outgoings of both parties.
Can my ex be penalised for being intentionally unemployed?
There is an expectation that reasonable steps must be taken to find employment, particularly if it is viewed by the court that someone has made themselves intentionally unemployed. If you have capacity to work, the court will take a dim view of your decision to quit your job. Legitimate factors that may affect your ability to find work include: health, education, skills, work history, and prevailing economic circumstances within the relevant industry. To avoid being considered intentionally unemployed, it is important to document all attempts to find work throughout your time of unemployment.
Whether or not giving up a job would be taken into account by the court depends on several factors, in particular, the conduct being inequitable to disregard. This is a high bar within family proceedings, realistically only considered in circumstances where there is a direct or indirect link to the financial resources of the couple. The aim of the court is to achieve fairness, which gives it a wide discretion to decide how this is accomplished.
What are the advantages of changing career during divorce?
Here is our non-exhaustive list of advantages for using a divorce as a springboard to a new career:
- The capability to choose an alternative career path that will better suit your role as a single parent, or allow you to earn more money to help make up for losing a dual income and support yourself.
- A new purpose or goal in life will give you something to focus on and develop your confidence and skills. A new job could also provide a welcome distraction from the negative side of divorce.
- If you have previously been a stay-at-home parent, this could be a new lease of life for you and has the potential to expand your social circle and skills.
- The court takes a positive view on a parent or spouse using their initiative and pushing forward to create a better life for themselves and their children.
What are the disadvantages of changing career during divorce?
A good rule of thumb when thinking about the advantages and disadvantages is to weigh up the costs and benefits of making a career move. Assess the practicalities, and whether you can cope with some of the challenges and obstacles posed by taking on two major life events simultaneously. Here is our list of just some of the more common disadvantages to changing your career during a divorce:
- Any change in circumstances would need to be reviewed by the court to assess the potential impact on issues such as child and spousal maintenance. In terms of who the children will live with, changing careers could make the situation more complex because of the lack of existing information about working hours.
- Because of the emotional pressures of ongoing divorce proceedings, you may find it too much to deal with focussing on a new role or training at the same time as preparing information for the court and attending court hearings.
- If your new role gives you greater job satisfaction but is accompanied by a decrease in salary, it could be perceived by the court as an attempt to reduce your financial commitment to your ex and/or the children.
- If you are still married whilst you go through a shift in career, any bonus or financial incentive you may acquire as a result could be considered a marital asset and divided accordingly.
For some, the idea of changing career at the same time as going through a divorce is daunting, but is can also be hugely liberating. However, it is important to weigh up the financial impact a new job or career path will have, as well as the increased demands it may place on your time.
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