How to make a Will in New Mexico

A Will is a simple, but important document that helps to leave nothing to chance after death. Let's look at what goes into making a Will in New Mexico.
Let's dive in

First, some of the basics.

Wait, why do I need a Will?
That's a great question - provide peace of mind, control over asset distribution, minimize family disputes, protect your children's future, support cherished charities, to name a few. With Snug, it's also incredibly easy to do, so what are you waiting for?
Read more - 10 reasons to get a Will
How long does probate take in New Mexico?
The probate process in New Mexico typically takes between 6 months to 2 years. Snug offers a reliable online estate planning service, helping you to create a well-prepared estate plan that minimizes potential conflicts and streamlines the probate process.
How much does a Will cost in New Mexico?
The average cost of a will in New Mexico ranges between $300 and $1,000, while the cost of setting up a trust can range from $1,000 to $3,000 or more. Snug is an affordable alternative, offering a user-friendly online estate planning platform that enables you to create a personalized will or trust at a significantly lower cost compared to traditional legal services.
Does a Will need to be notarized in New Mexico?
In New Mexico, a will does not have to be notarized. However, it is a good idea to create a self-proving will, which includes a notarized affidavit signed by the testator and witnesses. A self-proving will can expedite the probate process because it is considered valid without the need for the witnesses to testify in court.
Who can witness a Will in New Mexico?
In New Mexico, a will must be witnessed by at least two competent individuals who are at least 18 years old. To avoid potential conflicts of interest or challenges to the will's validity, witnesses should not be beneficiaries under the will.

What your New Mexico Will needs to include

People

A Will has a few important roles to be appointed.

1. The testator is the person creating the will. They must be of sound mind and be at least 18 years old.
2. The executor is a trusted individual responsible for administering the estate according to the testator's wishes.
3. The guardian is responsible for any minor children's well-being, including their financial, educational, and emotional needs.

Assets

A Will can control various assets after your death.

1. Personal property can be given to friends and family by including a Personal Property Memorandum.
2. Certain assets like life insurance or a 401(k) can have a designated beneficiary and bypass the Will and probate process.
3. The remaining assets (called the residuary estate) can go to the beneficiaries of your choosing.

Wishes

A Will is home to your wishes and a designed legacy.

1. Preferences for your funeral or memorial service, including things like location, intent, and even music.
2. Plans for your final resting place, including preferences for cremation, burial, or other options.
3. Charities and non-profits can be included to design a lasting legacy for causes that you care most about.

Making a Will the easy way, with Snug

Spouse or partner

Your current marital status will determine the type of documents for your situation and the specific legal language used to protect both you and your family.

Children and descendants

It is important to know if you have children and whether any of your children are under 18 years old. This lets us properly include guardianship and testamentary trust provisions in your documents.

Pets

Pets are an important part of many families and can be protected in your estate plan. You'll be able to assign backup caretakers and include an optional pet stipend.

Money

Choosing your beneficiaries gives purpose to your whole plan. Consider who depends on you financially and who/what you would like your assets to support.

If you choose a minor as a beneficiary, their assets can be held in trust so they can access the funds for important items like education. This prevents the scenario where a court appoints a conservator for the assets.

Gifts

Gifts are an easy way to carve out specific personal items or small amounts of cash to give to friends, family, and charity.

Key roles

Key roles defined within a Last Will & Testament include executors, guardians, pet caretakers, and testamentary trustees, as needed. It is important to included backups, in case any of your primary choices aren't able or willing to help.

Wishes

Your final arrangements are a highly personal topic and it is important to share your preferences with loved ones who can help to ensure your wishes are realized.

Will

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$145

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Package includes:
Lawyer-approved templates and state-specific language
Last Will & Testament to protect your family and assets
Health Care Directive to define your medical wishes
Power of Attorney to get extra financial and legal help when needed
12

min

Average time to setup your first Trust or Will.
5

min

Time needed each year to maintain your estate plan.

Comprehensive guides for you and your loved ones.

Complete Guide to Estate Planning

Estate planning can sound scary and complex, but we're here to help simplify the process and decisions for you and your family.

Complete Guide for Executors

Being an Executor or Personal Representative can be a rewarding, yet challenging role. This guide helps to light the way.

Complete Guide for Trustees

Being a Trustee is a significant legal and operational role. This guide includes everything from taxes to liability to fiduciary duties.