When you get a divorce, the family court may award alimony to you or your ex-spouse. Here are five things you should know about alimony in New Mexico.
1. What’s Alimony?
Alimony is spousal support. It’s a payment an individual makes to a former spouse. The payment is in accordance with a court decision or a divorce settlement agreement.
2. Why Alimony?
Spousal support aims to correct or limit any unfair financial effects of the divorce. Alimony provides an income to a former spouse who needs time to earn. Alimony may also help an ex-partner continue the standard of living enjoyed during the marriage.
3. Factors that Determine Alimony Awards
Alimony can be a volatile issue because it’s hard to estimate awards. There are no practical guidelines for the court or your divorce lawyer in Albuquerque to follow. It’s upon the court to make a fair determination.
However, a judge considers factors that include each spouse’s age, health, education, earnings, earning capacity, assets, and reasonable needs. The court will also consider the length of marriage and standard of living during the union.
4. Types of Alimony
Types of support after divorce include:
- Rehabilitative spousal support – paid until the requesting spouse can earn income and support self.
- Transitional spousal support – money to supplement the requesting partner’s income for a stated period.
- Alimony for an indefinite duration – spousal support for an unspecified time-span.
- Single sum payment – a lump sum paid either in one installment or an agreed number of installments. The payments may be or may not be contingent on the receiving partner’s death.
5. Alimony Modifications
At a spouse’s request, the court may increase or decrease spousal support. However, you or your ex can only request if your final divorce decree allows changes. Grounds for modification include inadequate alimony and a change in circumstances.
In New Mexico, a judge may award spousal support payments to a divorcing spouse. The financial support aims to help ex-partner enjoy the standard of living that existed during their marriage.