New Mexico Arbitration Agreement for Divorce
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FAQ
The recommended formula is as follows: In cases with no child support agreement: 30% of Payor's Gross Income minus 50% of Recipient's Gross Income In cases with a child support agreement: 28% of Payor's Gross Income minus 58% of Recipient's Gross Income
What Is Alimony? Alimony is basically defined as one spouse's payment to the otherunder a court order or the couple's agreementafter divorce or while a divorce case is proceeding. States use different terms for alimony, such as spousal support and maintenance, but they usually mean essentially the same thing.
New Mexico is a community property state and also an equitable distribution state. This means that marital assets and debts are generally split 50/50 between the spouses unless another division is agreed by the spouses.
This is the position despite the fact that section 101 of the Model Act provides that parties may refer all issues arising from a marital separation or divorce, except the divorce itself, to arbitration.
Arbitration could work to resolve your divorce if you have an issue or two on which you did not agree. It would be a cheaper option than a divorce trial with less hostility. Before you opt for a divorce trial, work with your family law attorney to explore all possible ways to settle your case.
Yes. You may settle your dispute at any time before the arbitrator issues the award. If you have settled, or believe you are close to settling your dispute, notify your Case Administrator.
The standard for divorces lies somewhere in between: many issues can be ironed out between the couple before the lawyers are called in to facilitate agreement on the remaining issues and draw up the appropriate paperwork to make it legally binding. This usually takes anywhere from two to six months to complete.
Divorce arbitrationArbitration is a process for solving the disputes that have arisen between 2 parties who are divorcing each other. This takes place when the divorcing parties want to solve the problem in a lesser period of time without approaching or taking help from the court.
New Mexico is a community property state. This means that any property that belongs to the marriage must be split equally between the spouses when they divorce. Likewise, all debts incurred during the marriage (with the exception of gambling debts) belong to both spouses equally.
The standard for divorces lies somewhere in between: many issues can be ironed out between the couple before the lawyers are called in to facilitate agreement on the remaining issues and draw up the appropriate paperwork to make it legally binding. This usually takes anywhere from two to six months to complete.
