Why is it important to understand a particular rule when it comes to family law? It’s important because this rule, Rule 1-123, sets the tone for your entire case. Rule 1-123 can assist in strategy and understanding on how a case will proceed. According to NMRA 1-123, parties to domestic relations actions shall disclose to other parties relevant information concerning characterization, valuation, division, or distribution of assets or liabilities, whether separate or community property, in any proceeding involving the distribution of property or the establishment or modification of child or spousal support as provided in this rule. In every domestic relations action involving property and debt division or characterization, within forty-five (45) days after service of the petition, the parties shall serve a disclosure. The disclosure shall contain
(a) an interim monthly income and expense statement;
(b) a community property and liabilities schedule; and
(c) a separate property and liabilities schedule.
In actions concerning spousal support or child support, within forty-five (45) days of service of process on the opposing party, the petitioner or movant shall serve on the opposing party, and the opposing party shall serve on the petitioner or movant, an affidavit of disclosure containing the following information.
(a) federal and state tax returns, including all schedules, for the year preceding the request;
(b) W-2 statements for the year preceding the request;
(c) Internal Revenue Service Form 1099s for the year preceding the request;
(d) work-related daycare statements for the year preceding the request, if applicable;
(e) dependent medical insurance premiums for the year preceding the request, if applicable;
(f) wage and payroll statements for four months preceding the request; and
(g) in actions concerning modification of spousal support, a statement of income and expenses.
Make sure that you use and follow Rule 1-123 to your benefit during your family law case. Talk to the experts in family law at the Justice Legal Group for more information.