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When is it required for my Will to be probated through Court? In New Mexico, if the total value of the estate exceeds $50,000 the will must go through the Court to be probate. An estate worth less than $50,000 is considered a small estate.
When there is no will, New Mexico distributes a decedent's property based on heirship: Surviving spouse and children ? In this situation, the spouse receives all communal property and a quarter of the decedent's separate property. The remaining separate property is split among surviving children.
Requirements for a Valid Will in New Mexico In order for a will to be finalized, it must be signed by the testator in front of two witnesses of sound mind, with the capacity to understand that they are witnessing the signing of a will.
If an estate is simple and uncontested, probate attorney fees in New Mexico can range from $3,000 - $5,000 in total. As things get more complicated, legal fees will adjust ingly.
Normally, a probate must be filed within three years following the decedent's death. Under New Mexico law no appointment of a personal representative may be made during the first 120 hours (five days) following the death.
Requirements for a Valid Will in New Mexico In order for a will to be finalized, it must be signed by the testator in front of two witnesses of sound mind, with the capacity to understand that they are witnessing the signing of a will.
Various records may be found in probate files. These may include wills, guardianships, bonds, petitions, accounts, inventories, administrations, orders, depositions, decrees, and distributions.
Parties may obtain discovery of any information, not privileged, which is relevant to the subject matter involved in the pending action. The information sought need not be admissible at the trial if the information sought appears reasonably calculated to lead to the discovery of admissible evidence.