When discussing finances in a divorce, income is a key element. When one spouse does not work or is underemployed, establishing a basis for earning potential is crucial. Earning potential involves an income amount that a person could be earning based on a variety of employment factors. Having a vocational assessment completed is a common way to discover earning potential.
In a vocational assessment, a trained expert will make a formal statement of an individual’s estimated earning potential and outline different types of employment the person could likely obtain. The experts will likely meet in-person with the individual for an interview and to conduct a series of tests. The tests may include tests of IQ, typing skills, and communication.
Experts will consider a variety of factors such as:
- Work history;
- Job skills;
- Salary data;
- Location; and
- Current job market.
Once the vocational expert assembles the testing data and completed the necessary employment research, they will create a report about someone’s possible employment. This document can be used in a divorce to establish a potential earning amount for a spouse who is out of the workforce or is underemployed.
Experts in a legal case can be costly. The cost of a vocational assessment generally ranges between $2,500 to $5,000. Additionally, if a case goes to trial, there also may be additional fees for the expert to testify. It is always best to consult with an attorney before hiring an expert to discuss about the possible benefits and expenses to your case.
If you have questions about divorce, experts, or establishing earning potential, contact our office today at (763) 323-6555 or by submitting a contact inquiry request through our website. Our Minnesota divorce attorneys are ready to assist and answer your questions.