New Mexico is a community property state, which means that any property acquired during a marriage is, in general, considered joint property. Stated differently: what is gained or lost during the marriage is the gain and loss of each party. Property division during a divorce can be complex and often contentious.
The assets must first be identified; a good Albuquerque divorce attorney can help you both discover the possibility of hidden assets as well as the location of those assets. Even when there is no intentional hiding of assets, complex financial situations will require an in-depth asset discovery process.
Once the assets have been identified they will need to be valued, an Albuquerque divorce attorney can provide you with advice as to when a financial professional is required to accurately evaluate assets. An attorney can also provide knowledge of how the court treats and values certain types of assets.
Consulting a New Mexico family attorney can provide important information concerning the division of marital assets, regardless of whether the case will be settled out of court or not. Please feel free to contact one of our Albuquerque family law attorneys with any questions you have regarding your divorce, or to schedule an appointment.