What’s the Best Way to Protect My Assets During Divorce in New Mexico

What’s the Best Way to Protect My Assets During Divorce in New Mexico?

If you are facing a divorce in New Mexico, numerous questions arise regarding your future, family, and finances. You should engage a skilled successful family law attorney to assist you through this process, as a divorce affects your future financial stability and the relationship you will maintain with your children.

By having a legal team to assist you, you will avoid making expensive mistakes in your divorce and you will protect your future. Our firm, The Law Office of Anthony Griego, LLC, knows that you may feel overwhelmed as you go through this process.

Our attorneys have over twenty years of experience helping clients navigate through divorce in New Mexico, while possessing the knowledge and familiarity with the local courts only obtained through years of practice. A New Mexico divorce comes with specific rules and laws, so it pays to know all the facts and protect your rights every step of the way. The Law Office of Anthony Griego, LLC, advocates justice and zealously advocate for your rights and interests.

You can see our dedication to our clients and our firm belief in the law and its ability to create positive changes in their lives, through our service and work towards helping our clients have favorable results.

We believe that the law should resolve wrongs, protect rights, and promote fairness. If you reside in Albuquerque, Rio Rancho, Corrales, or Placitas, we would like to assist you with your divorce.

Gather and Organize Your Financial Documents

In order to protect your rights during your divorce, you must understand your assets and your liabilities. Your financial documents will establish any property division.

We encourage our clients to start this process immediately, because you need to gather documents needed for your case. Collect your most recent tax returns, bank statements, retirement account information, credit card bills, and mortgage information, then make copies and keep them in a secure location.

If your spouse handles all of the financial accounts, you must not become anxious or worried. We can assist you in gathering documentation via the discovery phase of your divorce.

When you have a complete understanding of your finances, you will eliminate the possibility that your spouse will attempt to hide assets and you will increase the likelihood that you will receive a fair division of the marital estate. The more information you provide us, the more effectively we will advocate for your interests.

Divorce Laws in New Mexico

When you file for divorce in New Mexico, the court will apply specific rules to determine how a judge will view the parties' circumstances. Knowing New Mexico law will give you a competitive advantage when you are preparing for the future.

Property Division

In New Mexico, the law follows the concept of "community property." All property and debt acquired during your marriage will be characterized as community property and generally will be divided evenly (50/50).

Types of property division:

  • Community property: Includes income earned, real estate purchased, and retirement benefits accrued during marriage.
  • Separate property: Includes property acquired by one spouse prior to marriage, or via an individual gift or inherited from another individual. Separate property will remain with the original owner and will not be divided.

New Mexico Division of Community Property

While community property laws require that every couple divide the entire marital estate (i.e., half to husband, half to wife), a 50/50 division does not mean that every piece of property will physically be divided in half and/or converted into equal shares.

Rather, the court will seek to divide the net worth of the entire marital estate equitably, which typically involves awarding one spouse the entire value of one asset (for example, a house) and offsetting said spouse’s half of the value of that asset by granting the other spouse a different asset of equal value (for example, retirement account).

Child Custody

In New Mexico, all custody and visitation hearings are based on the best interests of the child. Factors that the court will use to determine the child’s best interests include, but are not limited to:

  • the child’s relationship with the parents;
  • the child’s ability to adjust to home, school, and community; and
  • the physical and mental health of the parents and child.

The State of New Mexico encourages shared parenting whenever possible, while always placing the best interests of the child as the first priority.

During any custody dispute, we advocate seamlessly by advocating for the parents' rights, while also working hard to meet the needs of the child(ren).

Will Spousal Support Require A Court Order?

Unlike child support, which is based upon a strict formula, spousal support (or alimony) will be addressed on a case-by-case basis. The court will consider, among other things: (a) the length of the marriage; (b) the income of both parties; (c) the ages and health of both parties; and (d) the standard of living while the couple was married.

If you gave up your career to care for the children, you may be able to receive alimony after the divorce to assist you in reentering the workforce.

Understanding the Differences Between Contested and Uncontested Divorces

Knowing what type of divorce you will file for will help you plan for the future. An uncontested divorce means that you and your partner have agreed to all the major issues related to the divorce.

You reached a mutual agreement on how to split your finances, who will get the marital home, and the details of child custody without any interference from the courts. This option for divorce usually saves time and reduces stress significantly.

However, there are many situations that might make it impossible to agree with your partner on everything when getting a divorce.

When a spouse is hiding their financial resources, insisting on unreasonable child custody terms, or is completely unwilling to negotiate with you, your only option is to go through the contested divorce process.

With a contested divorce, the court will intervene and help you resolve all of the disagreements that exist between you and your partner. We have a team of experienced attorneys who are prepared to take both approaches. We desire to achieve a peaceful resolution; however, we are prepared to litigate in court to protect your rights if it becomes necessary to do so.

Don't Move Out of the Marital Home Without the Advice of an Attorney

When you are experiencing challenges and have allowed those challenges to escalate, it is common to feel that leaving the marital home may be the best course of action.

We advise against moving out of your home until you sit down and speak with one of our attorneys. Leaving the marital home could have serious implications for your property interest in that house, as well as create complications for your child custody case. If you leave the marital home, the court could view it as an abandonment of your family and/or your interest in that property.

You should always consider your personal safety as the number one priority. If safety is the reason that you had to leave the home, it is understandable to leave; however, if you can safely remain in the marital home, you should do so, while our team develops a plan and strategy to legally require your spouse to leave the home.

Understanding your rights regarding the marital home prevents you from making a decision that could end up harming your case at some point.

Protect Your Relationship with Your Children

Family dynamics will change as a result of divorce. If you have children, you must prioritize protecting your parental rights. Whether you are a parent or not, do not make your children part of any adult discussions; do not speak negatively about their other parent to or in front of them. The courts frown upon parents who seek to destroy their child's relationship with the other parent.

Make all of the effort you can to spend quality time with your children. Keep a record of all of the ways in which you are involved in your children's lives.

You should keep records of school functions, doctor appointments, and any other activities where you had a direct involvement with your children. Your continual involvement in your children's lives will enhance your credentials as you seek to establish a permanent child custody arrangement.

Be Mindful of Your Communications

The court can use anything that you write or say as evidence, including emails, text messages, and social media posts. When you are about to send a very angry text to your spouse, take a moment to pause before sending.

When communicating with your spouse, no matter what the subject matter, limit the subject matter to logistics, including the time to pick your children up and how you are going to pay a specific bill.

You should treat anything that you say or write as if the judge will read it. You should stay away from social media for the time being.

A picture of something you just purchased or a photo of a fun night out may create significant challenges for you in your divorce if your ex-partner's attorney uses that photo to support their argument that you have an extravagant lifestyle or that you are irresponsible with your money. Privacy will be your best ally.

Develop a Strong Support System

Divorce takes an emotional toll on individuals. Although we will do all of the heavy legal lifting for you, you will need to create a personal support system to help you deal with your emotional toll. Call on trusted family members and/or friends to listen to you and your thoughts without judgment.

You should consider speaking with a licensed counselor or therapist. A therapist provides you with a confidential setting to work through your feelings while allowing you to keep your focus on the important legal decisions yet to be made. When you are stable emotionally, you will be able to make better decisions about your future.

Be Active in Your Case

We will advocate aggressively for your interests; however, no one is more important to the outcome of your case than you are. It is very important to ask questions about anything; read all documents we send you; be honest with us; and provide us all of the information that we need, even though you may be embarrassed to tell us certain things.

In order for us to protect your rights, we must have all information. If you participate in this manner, we can develop a strong legal strategy that will benefit you. By staying involved in your case, you will get back control of a situation that can seem entirely outside of your control.

Final Thoughts on Divorce in New Mexico

At The Law Office of Anthony Griego, LLC, our attorneys have more than 20 years of combined experience representing clients in divorce cases in the state courts in the greater Albuquerque area. We will protect your rights to the fullest extent possible during the course of your divorce.

Our attorneys are committed to ensuring that the law is fair, and it is for this reason we are determined to fight to obtain the best possible outcome for you.

If you are from Albuquerque, Rio Rancho, Corrales, or Placitas, please contact our office to set up an appointment and begin creating a new life for yourself.

Our phone number is 505-508-3110. Give us call today or complete our Request a Consultation form on our website.

 

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