The division of assets and debts is a major issue in any divorce or separation case, and it is important to have an experienced attorney on your side to protect your rights and interests. At Justice Legal Group, we have a team of skilled attorneys who can help you understand your options and negotiate a fair and reasonable settlement.
In New Mexico, the law provides that all property and debts acquired during the marriage are considered marital property and are subject to division in a divorce. This means that any assets or debts that you or your spouse accumulated during the marriage, regardless of who earned or incurred them, are considered to be owned equally by both of you.
The court will consider a number of factors when determining how to divide the marital property, including the length of the marriage, the age and health of each spouse, the earning capacity of each spouse, the standard of living during the marriage, and the financial needs and resources of each spouse.
It is important to remember that not all property is considered marital property. Property that was acquired by one spouse before the marriage, or through inheritance or gift, is generally considered separate property and is not subject to division in a divorce. Additionally, any property that was acquired after the date of separation may also be considered separate property, depending on the circumstances.
If you are involved in a divorce or separation case and have questions about the division of assets and debts, don’t hesitate to contact Justice Legal Group at 505-880-8737. Our attorneys have the knowledge and experience to help you navigate the legal system and protect your rights.