Make a New Mexico Last Will and Testament

New Mexico State Last Will and Testament Laws

Definition of Will - § 45-1-201(52)

Laws - Chapter 45 (Uniform Probate Code)

Witnesses - According to Section 45-2-502, the Will must be signed by two (2) witnesses.

A Sample New Mexico Last Will and Testament with Examples of Each Step

Step 1 - Using the template provided by FormSwift, enter your legal name, followed by your identified gender.

Step 2 - Enter your city and county of residence.

Step 3 - Select your marital status from one of the following choices:

• Single
• Married
• Separated
• Divorced
• Widowed

If you are not single, enter the name of your spouse.

Step 4 -  If you have children, pets, property, or life insurance policies, provide that information here.

Step 5 - Enter your children’s names, if they are living, and whether or not they will be named as beneficiaries in your will. In addition, list the names of pets, and information about any life insurance policies.

Step 6 - Provide the amount of money or percentage of your property you’d like to leave each child.

Step 7 - If you’d like to set up a trust for someone who is mentally ill or someone who is disabled in some way, specify that here. Setting up a trust for a person with special needs or a disability, especially if they require special care, can prevent interference with their ability to receive Supplemental Security Income and Medicaid benefits.

Step 8 - List the age that your children must be in order to begin receiving benefits from their trust, as well as how much of the trust will be received. Finally, provide the age they will be when the benefits end.

Step 9 - Is there a specific funeral home you’d like your body taken to? Provide the information here.

Step 10 - Would you like a specific food to be served at the meal after the funeral service? Would you like the meal to be served at a particular place? If you have that information or other specific burial arrangement information, explain it here.

Step 11 - Naming your Executor - Your Executor is a person who is charged with administering your estate once you pass away. Your Executor can be a beneficiary in your Will or your attorney. However, it is important that you name an Executor. If one is not named, one will be appointed by the court. Provide the following information:

• Executor’s name
• Relationship to you

Also, if you’d like to provide an alternate Executor, or if there is someone you do not want to act as your Executor, provide their name and relationship to you as well.

Step 12 - Appointing a Trustee - If your assets are set up in a trust, you must appoint a person, known as a Trustee, to disperse your assets once you pass away. If your assets are in a trust, provide the following information for a Trustee as well as for an alternate Trustee:

• Name of your Trustee
• Your relationship with them

Step 13 - Digital Executor - A Digital Executor is someone charged with distributing your digital assets. Digital assets can include trademarks, copyrights, valuable photos, digital currency, etc. If you have digital assets and wish to appoint a Digital Executor, provide the following information:

• Name of your Digital Executor
• Relationship with you

Step 14 - Guardian for Your Minor Children - If you have minor children, it is important to appoint someone who will act as guardian if you die. For the guardian, alternate guardian, and/or conservator, provide the following information below:

• Name
• Relationship to you

Step 15 - Additional Beneficiaries - If you wish to appoint additional beneficiaries besides your children, provide the following information for each:

• Name of Beneficiary
• Relationship to you
• Inheritance amount/percentage

Step 16 - Disinheriting a Beneficiary - If you want to disinherit a spouse, a child, or another beneficiary, provide the following information:

• Disinherited individual’s name
• Relationship to you

Step 17 - Witnesses - Provide the following information for each of the witnesses in your Will:

• Name
• Address (including city, state, zip code)
• Telephone Number

Remember that when you’re ready to sign your Will, your two witnesses must also sign. Then, after the Will is executed, you should keep it in a location that is both safe as well as easily accessible.

Why do you need a New Mexico last will and testament form?

In the State of New Mexico, having a legal last will and testament is an important step in estate planning. It provides the opportunity to name an executor who will carry out any wishes you have for your assets, guardianship of any minors, or make any stated charitable donations upon your death. The document will outline any part of your estate that you can distribute to any family members, friends, or other loved ones. State law also allows for the inclusion of a pet trust.

The benefits of having a will

While there is no legal requirement to have a last will and testament, there are many benefits to creating one.

• A major benefit of having a last will and testament in place is that you can outline specifically what you would like to happen with your personal property upon your death.
• You can name a guardian for your minor children.
• You can make charitable donations.
• You can create pet trusts.

The costs of not having a will

Without a New Mexico will in place, intestacy laws are enacted. This means that the courts will determine what happens to your estate as well as who will care for minor children. In New Mexico, without a valid will, a spouse will inherit the entire estate in the absence of any dependents. If there are dependents, the surviving spouse will inherit any community property and one-quarter of the remainder of the estate with the rest going to any descendants. If there is no surviving spouse or children, the courts will find the next closest surviving relative to inherit the estate. If no relatives are located, the State of New Mexico becomes the beneficiary of the estate.