Commercial real estate development often feels like the ultimate wealth-building frontier. The vision is compelling: raw land transformed into a bustling retail center, an office complex, or a multi-family housing unit, generating passive income for generations. For business owners and families with significant assets locked in a family trust, the temptation to use those funds to purchase land for a …
Probate in New Mexico: Myths vs. Reality
Navigating the loss of a loved one is a profoundly difficult experience. Amid the grief, families must also address the legal process of settling the deceased’s affairs, a process known as probate. In New Mexico, many people hold mistaken beliefs about probate that can lead to costly errors, family disputes, and unnecessary stress. Understanding the reality of probate and the …
What Is a No-Contest Clause in Estate Planning and Why Is It Important?
Know How to Protect Your Wishes. Estate planning is all about ensuring your financial and personal affairs are settled according to your wishes when you’re no longer around. For many, the process involves creating a will, establishing trusts, and appointing decision-makers. But even with comprehensive planning, disputes can arise among heirs over how assets are divided. This is where a …
Can Gene Hackman’s Will be Contested?
Can carefully constructed estate plans be dismantled in court? The passing of loved ones is never easy, but it can become even more complicated when conflicts arise over their estate. Imagine a scenario where legendary actor Gene Hackman and his wife pass away within days of each other, leaving behind a will that directs their estate to charity—a decision that …
Ancillary Probate: What happens when a person dies in one state, but they have property in another?
Take this example: Mary, a widow, moved to Florida to be near her children and grandchildren. Mary has been a resident of Florida for the last five years. She previously lived in New Mexico with her husband. Mary passed away, and her son, Mark, needs to probate her estate. He files the necessary paperwork in Florida to open probate and …
Small Estate Distribution Alternatives In New Mexico
After a loved one has passed, there are many steps and considerations to make. If they have a trust, you must administer the trust. If they have a will, you may need to probate the will. If they died without a will, you may need to probate the estate. However, in some circumstances, probate and administration are not a necessity. …
Informal and Formal Probate. Do You Know The Difference?
Probate is the legal process of petitioning a court to grant you the authority to administer or obtain control of a deceased person’s estate—usually a relative, loved one, or close friend (if you were personally named in that person’s will). Once that authority is obtained, you can distribute assets according to the decedent’s will or transfer assets owned by the …
Transfer On Death Deeds
In New Mexico (and a handful of other states), the law permits an owner of real property (either land or a house) to transfer that property by a Transfer on Death Deed (TODD). A TODD is a simple and effective way to transfer property to a beneficiary without the hassle of probating the estate to obtain possession of said property. …
Attorney Christina Cavaleri Talks About The Ever Changing Financial and Legal Landscape
If you are in the Albuquerque area on February 13th, 2024- you will not want to miss this valuable Seminar! How have changes in the Financial and Legal Landscape impacted your retirement plans? What financial and legal strategies you can you use to protect your nest egg?Come join us at the Holiday Park Community Center in Albuquerque, NM, USA on Tue …
Probate Litigation: Understanding Its Implications and Finding Legal Assistance
Probate is an essential process where the court proves the validity of a will and authorizes the distribution of a deceased person’s assets to their close family members and other beneficiaries. The process gives a legal confirmation of the executor’s authority and the ownership of the assets before they can be passed to the beneficiaries. In most cases, the probate …
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