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New Mexicans may want to create a living trust if their estate is large or complex, but the state's adoption of the Uniform Probate Code means that a living trust might not be necessary for smaller or less complex estates. If you do make a living trust, it's possible to do it yourself but it can get complicated.

List of Abbreviations ABREVIATION USEDWORDS ABBREVIATEDREVOCREVOCABLESAVSAVINGSECSECURITIES, SECTION, SECURITYSERSERVICING, SERVICE106 more rows

Personal trusts are further divided into either 1) Under Declaration of Trust (U/D/T) meaning the grantor and the trustee are the same person and the grantor controls the trust assets, and 2) Trust Under Agreement (U/A) meaning the grantor and the trustee are different persons and the trustee controls the trust assets.

In New Mexico, the cost of setting up a basic Revocable Living Trust generally ranges from $1,000 to $3,000. More complex trusts may cost even more. Online platforms like Snug provide more affordable options for creating wills and trusts, offering transparent pricing and quality estate planning services.

To make a living trust in New Mexico, you: Choose whether to make an individual or shared trust. Decide what property to include in the trust. Choose a successor trustee. Decide who will be the trust's beneficiaries?that is, who will get the trust property. Create the trust document.

Real Estate ? If you have any real estate that you wish to place in the trust, you will need to fill out a New Mexico Deed, putting it in the name of the living trust. When you sign the deed, a Notary Public must be present. The document then should be given to the County Clerk's Office.