Last Will and Testament
Many people associate estate planning and legal wills with the rich and elderly, but the truth is that any person of any age and status can benefit from having a will. Even though state law does not require you to work with an estate attorney on building a legal will, it is a good idea to seek the help of a knowledgeable estate planning legal team. Our estate law attorneys can help you navigate state law and any complex family and financial issues and ensure you meet all the requirements for creating a valid legal will. Furthermore, our estate attorneys can help you avoid costly mistakes that could invalidate all or a portion of your will.
What is a legal will?
To ensure that your will is effective, it’s important to include certain information. For example, you’ll want to name an Executor who will be responsible for reading your will, distributing property, and handling probate. It’s important to choose an estate attorney or someone you trust to carry out your wishes. You’ll also want to name the family members, friends, and/or charities who will inherit your property after you pass away. These individuals are known as beneficiaries, and it’s important to be clear about who you want to receive your assets.
If you have young children, it can be difficult to think about worst-case scenarios. However, it’s important to plan for their future by naming a trusted guardian in your will. This will ensure that they are taken care of in the event of an unexpected tragedy.
New Mexico recognizes various types of Wills, including:
Joint wills
Mutual wills
Wills with Testamentary Trusts
Pour-over wills
Who needs a legal will?
- Are you married?
- Do you have children under 18?
- Do you have assets like property, vehicles, or positive net worth?
- Have you ever thought about what would happen to your loved ones, property, and finances once you're no longer here?
For a legal will to be recognized by the State, a Will must be:
- Created by a person over the age of 18 who is of sound mind
- Witnessed and signed by someone over the age of 18
- Signed by a Notary Public
These provisions are necessary to avoid disputes over a will validity, which can lead to costly litigation among families and other interested parties.
If you have significant wealth, own valuable property, have young children, or want to ensure that your final wishes are upheld after your death, contact Roybal-Mack & Cordova, PC it is never too late to start planning. We can provide you with the guidance and legal expertise you need to create a valid legal will.
