Most divorcing couples in Albuquerque start out wanting the same thing: an amicable split, a clean break, and a chance to get on with their lives. That's especially true for business owners and professionals, who usually have more urgent things to do than fight in court.
But every so...
Continue reading…
Technically, yes. You can also start eating gas station sushi and get a Mike Tyson-inspired face tattoo. There’s no New Mexico law that will stop you from doing any of these things.
But if you're a business owner or professional contemplating these moves, the honest answer is: it's legally...
Continue reading…
Reading through the reams of documents created when you started or bought into a S-corp is a task you likely delegated to an attorney. Your job was running the business, or supporting your business-running spouse, not checking to see that every i was dotted and t crossed. You likely opted not to...
Continue reading…
If you own a business and you're facing divorce, you've probably already been told that mediation and collaborative divorce are both “alternatives to litigation.” That's true, but it's about as helpful as saying apples and bananas are both fruit. For a business owner, knowing the difference matters, because the divorce...
Continue reading…
A W2 is something you can hold in your hand. So is a bank statement or a stock certificate. These tangible, employment-derived assets are what New Mexico policy-makers were focused on when they drafted our state’s divorce laws.
Little thought was given to intangible/future/theoretical compensation like phantom stock...
Continue reading…
Ask ten Albuquerque locals what “green chile” tastes like, and you’ll get ten different answers. Mild. Medium. Hatch-in-August-fiery. It's one word covering a huge range of flavor. The same is true when someone tells you hiring a “financial expert” is a must when you are headed toward divorce. That phrase covers...
Continue reading…
The LLC is the entity of choice for a majority of New Mexico business owners. So it is not surprising that New Mexico’s family law courts are quite familiar with the challenges that arise when LLC owners get divorced.
Before you start Googling, “What happens to my membership interest?...
Continue reading…
In a New Mexico divorce, many times a business’s goodwill is treated as community property, which must be valued and divided between spouses. But the amount that's actually subject to division depends on whether that goodwill belongs to the business itself or to the individual who runs it. That distinction, between...
Continue reading…
A couple decades ago, private equity figured something out that many professionals, like physicians, dentists, CPAs, and architects are just now wrapping their heads around: at its core, a practice is just another business.
The patient or client relationships, the recurring revenue, the systems, the reputation built over years...
Continue reading…
The answer to this question is every lawyer’s favorite answer: it depends. It depends on when you started the business, how it was funded, and how you've run it during the marriage. There are so many factors involved that it is not too far-fetched to say it depends on what your definition...
Continue reading…