MARITAL PROPERTY EXPLAINED – ALBUQUERQUE, NM

One of the most difficult aspects of finalizing a high-asset divorce is identifying and separating marital assets. Most simply, marital assets are things acquired during your marriage, from the day of your nuptials until your final divorce agreement. It sounds simple, but dividing marital assets quickly becomes complex as tax issues arise and couples realize that marital property law categorizes retirement pensions as shared assets.

NEW MEXICO MARITAL PROPERTY AGREEMENTS

Since New Mexico is a community property state, you may want to create a marital property agreement even if you are not yet married (prenuptial agreement) or do not see divorce anywhere on the horizon. You and your spouse may create a marital property agreement prior or after marriage.

Marital property agreements made prior to marriage:

  • Identify each spouse’s separate property.
  • Define how income and assets will be classified in the event of divorce (e.g., you may decide to keep retirement pensions separate from marital property).

Marital property agreements made after marriage:

  • Identify each spouse’s separate property.
  • Divides community property into separate property.
  • Converts separate property into community property.

The high-asset divorce attorneys at Terry & deGraauw, P.C., have extensive experience assisting clients in Albuquerque and throughout New Mexico identify and divide marital property. Marital property law in New Mexico presumes that anything acquired during the marriage—including assets and debts—must be divided equitably upon divorce.

Our attorneys help couples in Albuquerque and throughout New Mexico draft marital agreements and protect their finances during a complex divorce. As New Mexico Supreme Court Certified Family Law Specialists, we bring unique expertise to the table as we work to protect your rights in any family law matter. If you have questions about your property rights in divorce, contact the attorneys at Terry & deGraauw, P.C., to schedule an initial consultation.