The Basics for Alimony in New Mexico
It’s not something spouses want to even discuss during a divorce; but no matter how it’s looked at, alimony in New Mexico is a very relevant issue for obvious reasons. For starters, though, we have to ask the simple question:
What Is ‘Alimony’?
Alimony in New Mexico, like in any other state, involves one basic thing: the financial assistance toward one party in the divorce, paid by the other party. This has nothing to do with child support. This is solely on the basis that a party in a divorce is in dire need of financial assistance. Sometimes a state may refer to it as ‘spousal support.’
Alimony in New Mexico is separated into four different types:
1. Rehabilitative Alimony
2. Transitional Alimony
3. Permanent Alimony
4. Lump Sum Alimony
Generally, rehabilitative alimony in New Mexico is more commonly awarded in the courts as a provision. It involves the financial assistance toward furthering education among the party seeking the support. It’s a commonality that in divorce, income can become so split that one party (and in some cases, both parties) suffer financially and also are saddled with the fact that education had fallen by the wayside. It’s for this reason that rehabilitative alimony is considered.
‘Transitional’ alimony in New Mexico, however, is a different story, in that typically a spouse seeking support does make some money in a job, but not enough. Generally speaking, this type of alimony is awarded on a temporary basis to supplement the present income until everything can get established for the support-seeking party in the divorce.
‘Permanent’ alimony, on the other hand, tends to be a lot more extreme, involving issues such as physical or mental disability where one party is completely unable to provide a reasonable means for living. Payments go on indefinitely. Typically, though, all forms of alimony cease upon the event of a remarriage for the party receiving the support, not to mention this particular form of alimony may also cease if a modification is requested from either party.
And then there’s the ‘Lump Sum’ form, dealing with the easy possibility of just paying a specified amount of spousal support right on the spot, or even in some installments. Sometimes it may involve a total amount of rent payments or car payments, and the court may stipulate that alimony be allocated for those expenses to help the receiving spouse adjust to the divorce on a financial level.
The General Requirements for Alimony in the State of New Mexico
Not all divorce cases, however, require alimony. The court considers these factors when determining if alimony is a necessity:
1. Age and Health
2. Income Levels
3. Current and Future Net Incomes
4. Efforts to Maintain Employment
5. Reasonable Needs
6. Length of Marriage
7. Property Distribution
8. Specific Assets and Liabilities Awarded to Each Spouse
9. Additional Income From Property Owned by Each Spouse
10. Any Prior Agreements Stipulated by Both Spouses
Some or all of these considerations can definitely influence the need for alimony, the type of alimony, and how much alimony is necessary in any divorce case.
So it’s important for any party dealing with a divorce to know everything necessary about alimony in New Mexico.