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Showing posts with label waiver. Show all posts
Showing posts with label waiver. Show all posts

Thursday, June 30, 2011

Marital Settlement Agreements and Creditors' Claims

As part of my divorce mediation practice in New Mexico, I see a lot of "marital settlement agreements" (MSAs) and understand the pitfalls they can entail.  For example, under NMSA Sec. 42-10-2 and 42-10-3 certain assets such as annuities, money purchase plans, profit sharing pans, and individual retirement accounts are ordinarily exempt or protected from creditors' claims, through attachment, garnishment or other legal process--however, that protection can be waived if the parties are not careful.  A recent N.M. case addresses this head one.