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Home General New Mexico Divorce: Who Gets What?

New Mexico Divorce: Who Gets What?

April 29, 2014 by Kuffer Law

Asset-DivisionWhen your marriage or relationship is heading for divorce – how do you figure out what’s really yours?  Chatting with friends or family will provide you with endless opinions.  And you know what they say about opinions…   So – what’s the answer?  How do you figure out what’s legally yours in a divorce or separation?

First, you might have heard about “community property states” and “separate property states” – two totally different concepts under the law.  And like most things legal, the devil is in the details.   New Mexico is a community property state, meaning that each person is entitled to half of the property acquired during the marriage.  But certain exceptions do exist and each state has different community property laws. You should consult with an attorney for advice about your specific situation.  It is also important to know that the debts acquired during the marriage are also considered “community” debts, meaning that each of you is equally responsible.

Divorce and the division of assets and liabilities is a specialized area of law requiring an experienced attorney that can help you navigate through the process and the courts.  Domestic partnership agreements, prenuptial agreements, mutual debt/property agreements, tax implications, retirement accounts, savings accounts, real property (real estate), inheritance, and actually identifying and valuing each piece of personal property are all elements that require a thorough evaluation before anything is actually “divided”.  And just to add more complication, many people residing in New Mexico have moved from a “separate property state” during the marriage.  So then what’s “yours”?

It’s starting to get complicated, isn’t it?  Even if you and your spouse/partner are willing to amicably end things – it’s still a very good idea to have a lawyer help guide you through the process.   If you can collaborate on the division of what you own and what you owe, it will probably reduce legal costs and help to avoid later conflicts.

Filed Under: General, Uncategorized

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About Us

Dorene Kuffer is the senior and principle attorney with over 30 years practicing all aspects of criminal and family law in New Mexico and Illinois. In 2007, Dorene moved to New Mexico, where she is licensed to practice before the 10th District Court, the United States Supreme Court and the United States Tax Court as well as all magistrate, metropolitan and district courts in New Mexico.

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  • Home
  • About Us
    • Our Staff
      • Dorene Kuffer
      • Caitlin C. Dupuis
      • Niva J. Lind
      • Joyce Hammerschmidt
      • Jill Anderson
      • Brandee Cartwright-Jones
    • Questions
    • Links
    • Testimonials
  • Practice Areas
    • Child Law
      • Adoption
      • Child Support
      • Child Custody
      • Child Visitation and Support
      • Child Custody Modification
    • Juvenile Law
      • Bullying in School
      • Child Charged as an Adult
    • Divorce Lawyer
      • Spousal Support
      • Divorce Mediation
      • Prenuptial and Postnuptial Agreements
    • Criminal Lawyer
    • CYFD Cases
    • Domestic Partnership Agreements
    • Domestic Violence Resources
      • Orders of Protection and Restraining Orders
    • Elder Law Attorney
    • Father’s Rights
    • Legal Separation
    • Marital or Premarital Agreements
    • Wills & Estates
  • LGBT
    • Gay and Lesbian Rights
    • LGBT Adoption Lawyer
    • LGBT Child Custody
    • LGBT Divorce
    • LGBT Domestic Partnerships
    • Domestic Violence
    • Mediation
    • Second Parent Adoptions
    • LGBT Spousal or Partner Abuse
  • Santa Fe
    • Divorce Law
    • Complex & High Asset Divorce
    • Child Custody
    • Child Support
  • Blog
  • Contact Us