Every athlete knows that game day isn't where championships are decided. Champions are made on the practice field, in the film room, and in the weight room, long before the opening whistle blows. The same is true in divorce litigation. By the time you walk through the courthouse doors for your first...
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If you co-own a business or professional practice in the Albuquerque area, you almost certainly have a buy-sell agreement in place. These documents are the legal foundation of your partnership because they say what happens to each owner's interest when a major life event forces a change in ownership.
Walter White’s little chemistry business created a few liabilities his wife never signed for but ended up dealing with. It turns out having a husband that becomes a drug lord comes with a lot of strings attached.
It’s doubtful that the Breaking Bad writers had New Mexico’s community property...
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When one spouse is self-employed, the financial aspects of divorce can feel like a Gordian Knot. Income fluctuates. Expenses blur. Value isn’t always obvious. And in a community property state like New Mexico, where the value of most assets and debts acquired during the marriage must be divided equally, the challenge...
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It’s been said that numbers don't lie. And in a narrow sense, that's true. A number is a number. But anyone who has ever run a business knows that different numbers tell very different stories. Net income on a tax return is not the same as cash in the bank. Owner distributions...
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Back in 2020, the late, great Jimmy Buffett released a catchy little tune called “Mailbox Money” about the joy of living off of royalty checks. If any other artist tried to write something similar it would come off as crass, but Buffett made it sound aspirational. Who wouldn’t want to cruise...
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Polygamy is illegal in New Mexico. But if you and your spouse took out a mortgage together, opened joint credit cards, or personally guaranteed a business loan, you've been in a three-way relationship this whole time. And your lender is not going to want to call things quits just because you and...
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Knowing what assets you have on your balance sheet is part of being a business owner. You could probably do a back of the envelope estimate of your company’s current value in just a few minutes if you really needed to.
But if you are like many of the...
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It is not uncommon for businesses in the Albuquerque area to have silent partners. These people have an ownership interest in the business, and are invested in its success, but they don’t participate in day-to-day operations.
What some business owners don’t realize is that they may...
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Valentine’s Day is coming, and for many its approach is unwelcome. Instead of being a celebration of commitment and connection, it’s a reminder that Cupid’s favor often comes at a cost.
As a business owner who was inspired to pursue law as a second career after getting divorced,...
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