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Will divorce ruin me financially?

If you and your spouse in New Mexico have chosen to get a divorce, you will have to make many tough decisions and you may be unsure about just what information you should be collecting or factoring into those decisions. A divorce is a major emotional event in your life but it is also a major financial event in your life. It is important that you understand the things to pay attention to so that you are prepared to move forward financially in the right manner.

COBRA benefits following your divorce

Those first few days, weeks and even months following your divorce in Roswell can be the most difficult to get through. Even if the circumstances of your separation from your spouse make your new situation a welcome relief, adjusting to life without their support can be hard (particularly if you were not the primary income earner in your marital home). One of the aspects of post-divorce life that many of those who come to see us here at the Sanders Law Firm find most difficult to adjust to is the uncertainty that they feel over seeking costly assistance that they received previously from their ex-spouses (such as health care). 

Keeping the full value of a 401k

As people in Roswell head into their divorce proceedings, they may conflicted as to how to handle the division of their 401k accounts. The contributions made to such accounts during a marriage are considered to be marital property, and thus subject to property division. Yet some may want to retain the full value of those accounts in order to stay on track to meet their individual financial goals once they reach the age of retirement. Is that possible? 

Should stepparents have boundaries?

Co-parenting is tricky enough on its own, but when stepparents are involved it can be a minefield to navigate. While stepparents can make meaningful contributions to a family, there are certain boundaries that must be respected at all times. Parents Magazine explains some of these boundaries and why they're so important. 

Gray divorce factors

When many people in New Mexico think about divorcing couples, they might think about people who are still young enough to have kids at home before they would think about someone about to retire. However, the fact of the matter is that divorce among people aged 50 and older has been on the rise for some time now. These divorces are commonly called gray divorces, as people at this stage of life may have graying hair.

When "bird's nest" co-parenting makes sense

No matter how amicable the separation, transitioning into co-parenting after a divorce comes with financial expense and emotional toll. One way parents are coping with these issues is by way of a new custody plan in which parents swap in and out of their family home, "the nest," while their children stay.

What type of custody is best for your situation?

Whether you are currently going through a divorce or you are considering filing papers, there are a myriad of issues to tackle. If there are children involved in your situation, the process becomes more complicated, as you must determine what type of living arrangement is best for your kids. The judge presiding over your case will often look at several factors before deciding whether to award sole-physical custody to one parent or choose a joint-physical custody living arrangement. Before making this crucial decision, however, there are several factors to consider.

Handling debt during your divorce

For many married couples in New Mexico, money can be a common source of woe. Many a marital argument has involved finances. For some couples, financial troubles can become so severe that they even contribute to the irrevocable breakdown of the marriage. When this happens, one of the things people must find a way to do is split up their debt.

Protecting yourself when dividing debt in divorce

Residents in New Mexico who are getting divorced generally have to endure the process of splitting up their marital estate. Most people commonly think about how to divide assets but also involved in this process is the division of debt. Figuring out how to assign a couple's debt can often be a complicated thing.

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Offices Conveniently Located in Roswell, Albuquerque & Hobbs

Roswell Office
701 West Country Club Road
Roswell, NM 88201

Toll Free: 866-755-7229
Phone: 575-578-4392
Fax: 575-622-5853
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Albuquerque Office
4801 Lang NE
Suite 110
Albuquerque, NM 87109

Toll Free: 866-755-7229
Phone: 505-798-2588
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Hobbs Office
732 E. Michigan
Suite 500
Hobbs, NM 88240

Toll Free: 866-755-7229
Phone: 575-318-2887
Fax: 575-393-0565
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Las Cruces Office
1990 E Lohman Ave
Las Cruces, NM 88001

Phone: 575-222-1111
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Ruidoso Office
1100 Sudderth Dr
Ruidoso, NM 88345

Phone: 575-222-1111
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