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 …
Challenging a Will – When and How to Do It
Understanding the process of contesting a will can be challenging. When should you consider contesting a will? What are the grounds for contesting a will? And how do you go about challenging a will once you have decided to do so? Here, we’ll break down each step of the process so that you can make an informed decision when it …
A Cautionary Tale of Estate Planning: Robin Williams’ Story
When the beloved comedian, Robin Williams, passed away in 2014, many were shocked and saddened. It was even more heartbreaking to learn that his family, though provided for in his will, spent years after his passing in court battling over items, budgets and Knick knacks due to the fact the language in Mr. William’s will was non-specific and overly vague.. …