What Is Alimony in New Mexico?
Alimony is often referred to as spousal support all around the south and southwest, but in New Mexico, it's usually referred to as alimony. Alimony is pursued by a spouse who may have a more significant income disparity than their spouse after a divorce; this is unlike child support because child support is assigned and calculated through a support system; it's essentially a mathematical equation. In addition, alimony is not computed using any mathematical formulas or complex equations; instead, it's based on one spouse's need and the other's ability to pay.
What factors play into alimony?
Some of the significant factors that play into obtaining alimony would be the spouses' age, income, length of the marriage, amount of property awarded, and assets given during the realignment of community property during the normal divorce process. Your ex-spouse may pay spousal support in payments of regular intervals or lump sum payments; the payment plan is dependent on the court ruling. For example, your spouse may need to liquidate property to buy you out of the house, or they may need to sell the house to compensate you for your interest. If the ex-spouse cannot meet the costs, they may qualify for maintenance payments. The standard of living for the new marital arrangement should be similar to the original, which is the primary intention of New Mexico's spousal support.
How long will I pay alimony?
Three types of alimony can be allotted to you or your ex-spouse: long-term, transitional Alimony, and rehabilitative Alimony. Long-term maintenance is the hardest of the three plans to obtain because it is usually deemed appropriate for marriages that last 20 years or longer. Long-term alimony is generally given to spouses who may not have worked for an extended period if the spouse has little to no employment skills or education or where there would be a significant income disparity between both spouses. Alimony is to be discontinued or halted after remarriage or change in marital status. Transitional alimony is delegated to a spouse as funding to establish themself after a diverse, this latest for a year or less. Rehabilitation alimony is financial support that goes toward the education or reeducation of a spouse who is uneducated or untrained in any field of study. This alimony goes to funding their education to get new employment opportunities to support themself and become economically independent financially.
Do I need to pay Alimony in New Mexico?
No, alimony is a case-by-case issue, and if a few of the previously mentioned issues above are similar to your situation, you still have a chance to avoid paying. In addition, there are many arrangements you can make with your spouse to avoid the issue entirely; you could end up negotiating social security benefits with your spouse. You could give them the marital home in your final settlement to prevent long-term installments for alimony.