New Mexico Affidavit by an Attorney-in-Fact in the Capacity of an Executor of an Estate
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How to fill out Affidavit By An Attorney-in-Fact In The Capacity Of An Executor Of An Estate?
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FAQ
The estate is distributed ing to: the decendent's will or if the decendent did not have a will, ing to New Mexico's laws of intestate succession. The probate court appoints legally qualified persons, called personal representatives, to manage and settle the decedent's affairs.
From start to finish, most New Mexico probates take about two years to complete. However, 90% of the work is usually done in the first five or six months of a probate, and most estates distribute assets within a year. Creditors have up to one year to make a claim.
If you have no spouse and any of your children are alive, they will be the only heirs to your estate. If you die with a spouse and children, your spouse will inherit all community property and 1/4 of your individual property. Your children will inherit 3/4 of your individual property.
Seeking Legal Recourse If you believe that the executor is not living up to their duties, you have two legal options: petition the court or file a civil lawsuit.
If you do not have a will, your property may get distributed through intestate procedures. In New Mexico, for any deceased person whose total assets (their estate) exceed a value of $50,000, their will or estate (even without a will) may need to go through probate.