How do you avoid probate in New Mexico?

How do you avoid probate in New Mexico?

Living trusts In New Mexico, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on. You need to create a trust document (it’s similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

What are the three conditions to make a will valid?

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The requirements for a valid Will are as follow:A person must be over the age of 16 (sixteen) years.The Will must be in writing. This means that a Will can by typed or handwritten. Each page of the Will, including the last page, must be signed by the testator. The Will must also be signed by two competent witnesses.

How do I file a will in New Mexico?

Under New Mexico law, a will is filed with the court after the death of the testator. NM Stat § 45-2-516. So, after you pass away, your will should be filed in your local probate court by the person named to be your personal representative (also called an “executor” or “administrator”).