New Mexico Estate Planning
The majority of adults in New Mexico don't have a last will and testament—or any estate planning documents, for that matter. But a will isn't just for the rich or senior citizens. Most adults could benefit from some basic estate planning, and an estate planning attorney can help you put these plans in place.
Do I Need Estate Planning?
Who needs estate planning? Almost everyone!
Under New Mexico estate planning laws, you must be at least 18 years old and "of sound" mind to create a last will and testament or other estate planning documents. In particular, you should talk to an estate planning lawyer if:
- You are the parent of children under the age of 18: In your last will and testament, you can name a legal guardian for your children in the event that you and your child's other parent die while your children are still minors. You can also create a trust and name a trustee to manage your children's inheritance.
- If you own your home or other assets: Your estate consists of real estate, money and personal possessions. Anyone who has an estate of value should have a last will and/or a living trust.
- You don't want your estate distributed according to New Mexico intestacy laws: These laws specify who inherits an estate, and what percentage of the estate they inherit, if a person dies without a will. If you want your assets distributed to people in addition to your spouse and children (or your parents, in the event you have no spouse and children), then you need a last will and testament.
- If you are concerned about your health care if you're incapacitated: A healthcare power of attorney lets you authorize someone else (your surrogate or agent) to make medical decisions for you if you're unable to communicate. A living will is a document that is used to explain your end-of-life treatment decisions.
- If you want to authorize someone to handle legal or financial transactions on your behalf: A financial power of attorney lets you name someone as your attorney in fact and empower them to perform certain financial and legal tasks in your name.
Find & Hire Local New Mexico Estate Planning Attorneys
Attorneys.com can help you locate estate planning lawyers and probate attorneys across New Mexico, including attorneys in Albuquerque, Santa Fe and Rio Rancho. To use our free lawyer referral service, call us at 877-913-7222 or complete the form on this page. After you answer a few simple questions, we'll quickly match you with lawyers in your area.