Who Needs a Will, Trust or Estate Planning?

Almost Everyone:

• Anyone who has property in his name
• Anyone who is responsible for minor children
• Anyone who stands to inherit any titled property

How Can I Transfer Property When I Die?

• Intestate Succession (State provided will)
• By Will or Trust
• Non-probate Transfers

What Is Intestate Succession?

• The State of New Mexico has written a will for you
• Your property goes to your heirs as directed by state law
• It may or may not match your desires with regard to your property
• Issues with Administration can arise

What is a Will?

• A will is a written document stating your desires concerning your property and/or minor children
• It is a contract with the state to allow the transfer of property after you die

Wills

• Wills are VERY technical and must be written, executed, and witnessed properly under the state law
• You get to pick the person who manages your affairs (called the Personal Representative)

Non-Probate Transfers(Not by Will, Trust, or Intestate Succession)

• Joint Tenancy
• Payable on Death
• Life Insurance
• Retirement Plans
• Transfer on Death Deed

Note: Please be advised that this communication does NOT create an attorney-client relationship. An attorney-client relationship will only be created after the firm agrees to accept representation and a retainer letter is received from the client.