Because the breakup of a marriage or other relationship is a stressful time, it is not surprising that many Illinois residents do not make the best decisions in such occasions.
Oftentimes, albeit unwittingly, Rockford residents fall in to a common financial trap that can only make the economic fallout from a breakup worse.
One example of these types of traps is the temptation to quit one’s job after a separation, especially when a person is making good money at the job and has gained a good reputation in that line of work.
Even when it is not being done maliciously but perhaps just as a way of getting a fresh start on life, leaving one’s job or career behind for something that pays less is wrought with financial and legal danger.
Financially, the end of relationships is going to cause stress on one’s pocketbook. There is one less person to bring in income or, in the case of a homemaker, save money on expenses.
A person will walk out of a divorce, in all likelihood, with about half of what they owned during the marriage. There will also be bills, including child support and, possibly, alimony. The last thing one needs is the additional stress of less income from his or her job.
Legally speaking, as this blog has discussed before, judges in Illinois do not have to take one’s current salary at face value when deciding how much he or she will pay in alimony or child support. A judge can look at the fact that the person was capable of making more money but voluntarily left a good-paying job. This can lead to the judge’s ordering payments that are higher than what would usually be called for.