Probate, Wills, Estate
The Probate process in New Mexico can sometimes seem complicated. When a friend or loved one passes, called the decedent, they usually leave unfinished business. Simply put, there may be property that has to be transferred to heirs, bills to be paid, or the collection of bills owed to the decedent’s estate. The decedent can no longer perform these tasks. In those cases a New Mexico Probate may be required. We can help.
The Probate Process
The probate process in New Mexico enables a person to transfer title of real property or estate property from the decedent’s estate to their rightful beneficiaries or heirs. The probate can help prove that a valid will exists, or, determining who the heirs and beneficiaries are and whether those heirs are rightful and legitimate. In the in instances when there is no will the probate appoints a “personal representative” that can legally transfer assets of the estate to their rightful owners.
The Valid Will
The probate process ensures a will is valid and properly executed and witnessed, which is a requirement of a New Mexico Will. It also ensures that the Will is not the result of fraud or undue influence by any individual seeking to wrongfully take property from the rightful heirs and beneficiaries as the result of a person’s death.
One of the main functions of a New Mexico Probate is to establish the authority to transfer of title of real and personal estate property, from a decedent to heirs, or beneficiaries, by the appointment of personal representative. A personal representative is appointed by the local Probate Court and may be selected by the decedent through instructions in their will, or by someone designated by relation through New Mexico law. A New Mexico Probate identifies this person and gives them the authority to transfer property of the estate by signing deeds, titles to vehicles, or simply distributing property to those heirs and beneficiaries as designated under New Mexico law.
Payment of Taxes and Dealing with Creditors
A New Mexico Probate also provides for the payment of taxes and debts that remain outstanding for the estate. The Probate will also establish deadlines for claims to be filed by creditors of the estate and after a period of time, forecloses their claim, to prevent those stale creditors who have not received payment from the estate, from continuously seeking collection of debts that were owed from beneficiaries without any end.
As complicated as the probate process may sound, we can help. Contact us now to ensure your loved one’s Estate is handled with professionalism and care.