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How will a job loss affect property division negotiations?

The process of going through a divorce includes critical decisions that may impact one for the foreseeable future. If, during the divorce proceedings, one or the other spouses loses a job, then there will be concerns over property division. Texas residents who are preparing for a divorce may benefit from keeping all possible scenarios in mind. 

One of the most important issues is the dividing of marital assets and whether support payments will be a part that is necessary. If either party loses employment, then it may change the way such payments are structured. There are steps to take in order to ensure that a fair settlement can be reached. One of the first is to document the reasons behind unemployment. If one loses a position through layoffs or other employer-based reasons, it is important to include any documents that support the reason provided to the courts.

Along with supporting evidence, it is recommended that the job seeker keep a log of efforts to obtain a new position. Writing down the companies contacted, time spent networking and efforts expended in online searches will show the court a willingness to obtain employment comparable to the lost position. If one suspects that a job was lost in an effort to avoid a fair settlement or support orders, an attorney may help ensure that the courts will take all relevant circumstances into consideration.

While the loss of a job may add complications to divorce, taking deliberate steps can help ease some of the stress. Depending on the situation, courts may structure support payments for the time that one is out of work with stipulations that payments will reflect new circumstances once employment is obtained. For financial stability, the importance of a fair property division agreement cannot be underestimated. Texas residents who are going through a divorce may fare best if they enlist the services of an experienced attorney.

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