Attorney
Bringing home the bacon has always been something you were proud of. You’ve worked hard to build your career, your business, and your professional reputation. You’ve been the one ensuring financial security for your family, the person they can depend on. But with divorce on the horizon, your success seems more like a burden than a blessing.
If this is resonating with you, it’s time for you to talk to Attorney Bob Matteucci. As a divorcee and former business owner himself, Bob understands better than most how difficult it is to reconcile your roles as breadwinner and business leader with New Mexico’s divorce laws. With Bob by your side, you can move forward without sacrificing everything you’ve built.
Alimony and Spousal Support Payments
Some high earners worry that paying alimony will all but bankrupt them post-divorce. There’s a misconception out there that these payments, which are now called spousal support, are onerous and ever-lasting. The reality is spousal support payments are unique to each relationship.
How much you may end up paying (if you pay anything at all) depends on a variety of factors, including:
- Length of the marriage
- Age and health of both spouses
- Current and future earning ability
- Job training or education needs
- Childcare responsibilities
- Lifestyle maintained during the marriage
- Sacrifices one spouse made for the other’s career or business
- Contributions to a professional practice or business growth
- Assets, debts, and financial responsibilities of each spouse
Attorney Bob Matteucci puts his lived experience, business sense, and understanding of New Mexico’s family court system to work to ensure spousal support payments reflect reality and meet the needs of each family he represents.
The 500 Pound Gorilla: New Mexico’s Community Property Law
Worrying too much about alimony payments often obscures the biggest hurdle high-earning individuals must clear before getting divorced: New Mexico’s community property law. It expects couples to divide the value of all jointly owned assets 50/50 before their split is finalized. It doesn’t matter whose paycheck funded them, or whose name they are in, which often comes as a surprise.
Splitting everything 50/50 is a lot easier said than done because a wealthy couple’s community property often includes things like real estate holdings, collectables, retirement accounts, and whole businesses. You can’t saw these illiquid assets in half, so you have to start horse trading (sometimes literally!). For example, one person gets full ownership of the family business, while the other walks away with the family home and the bulk of the couple’s retirement savings.
It can seem unfair when everything you have worked so hard to build is being sliced and diced, but the law was crafted to ensure that homemakers, stay-at-home parents, and other people who earn significantly less than their spouse are not trapped in an unhappy marriage because they cannot afford to leave. It also recognizes the important role that a supportive spouse plays in the success of many high-earning individuals.
An upside of the community property law is that it can limit the amount of spousal support you owe. Your former partner may simply not need additional support once they have half of your joint assets under their control.
Serving Families with Dignity & Compassion
Divorce can be a nerve wracking experience if you are your family’s breadwinner. As Attorney Bob Matteucci knows from first-hand experience, your fear that everything you worked so hard for is at risk is not unfounded.
But by approaching the divorce process with the same foresight and resilience you bring to your business life, you can protect your interests while also setting the stage for your family’s future. Bob and the rest of the Matteucci Family Law team are ready to help you do just that. Please reach out today to set up a meeting.