Probate in NM
Probate is a legal process that occurs when a person dies. The court appoints a person (often called a personal representative or an executor) to administer the estate. It is that person’s job to identify the assets of the estate, pay any allowable debts of the estate, and distribute the remainder to the correct beneficiaries according to the will and the law.
Inventory Estate Assets
Pay Allowable Debts
Distribute Assets
Probate With & Without A Will
The details of the process for probate in NM differ depending on whether or not there is a will. When no will is found, the estate is distributed according to the New Mexico laws of intestate succession and community property. The personal representative must simply follow the statutes and determine which persons are legally considered heirs.
When there is one or more wills, the process is different. First, the Court must determine whether the will is valid. If there is no valid will, then the estate is treated as if there is no will. If there are competing wills, then the court must decide which one governs. Once the court has approved a will, the personal representative must distribute the estate according to the terms of the will.
Whether or not your estate includes a will, we are here to help.
The New Mexico Probate Process
While the process differs depending on whether there is a will, some parts of it stay the same. Once a personal representative is appointed, that person must create an inventory, deal with any creditors, and ultimately distribute the assets according the will or the laws of intestacy.
Duties of the Personal Representative
The first step in administering an estate is to appoint someone—often called a personal representative or executor—to do the work.
Inventory & Accounting
The next step in administering an estate is to find out what it contains. The personal representative must find and document estate assets, such as bank accounts, real estate, stocks, bonds, and vehicles.
Notice to Creditors & Creditor Claims
Before the personal representative can distribute estate property, he or she must find out what the estate owes and determine which debts are allowable.
Exemptions & Distributing Assets
Once the personal representative has determined what is in the estate and paid any allowable debts, the rest can be distributed to the heirs or devisees.
Affordable Fees
Simple uncontested probate administration starting at $2,999*
*plus tax and expenses