There are many challenging aspects to a divorce. One of those issues that we see many families struggle with is the issue of finances. In New Mexico divorce laws allow for what is known as the interim division of income and expenses. This is a process where the theory is that while you remain married you aren’t together (the grey area while married but pending divorce) there needs to be an accounting of community income and debts on a monthly basis until the divorce is finalized.
To address this the courts calculate an interim division of income and expenses. This process takes each parties’ net monthly income and subtracts certain fixed expenses. This results in each party having a set “pot” of money at the end of the month. The goal with interim division is for each side to end up with the same outcome each month. This usually requires one party to pay the other in order to “equalize” the monthly income. Interim division is confusing and has a significant impact on the divorcing couple’s finances.
Be aware of your rights. If you want to discuss interim division and its impact on your divorce, contact our divorce lawyers by emailing us at info@JusticeLegalGroup.com or calling us at 505-880-8737.