Extract Data From Legal New Mexico Pour Over Will Forms For Free

No, in New Mexico, you do not need to notarize your will to make it legal. However, New Mexico allows you to make your will "self-proving" and you'll need to go to a notary if you want to do that. A self-proving will speeds up probate because the court can accept the will without contacting the witnesses who signed it.

The New Mexico probate process is fairly simple in comparison to the process in some other states. In fact, not every estate needs to go through probate. Estates valued at $50,000 or less can avoid probate in some instances.

Dying Without a Will in New Mexico The court will then follow intestate succession laws to determine who inherits your assets, and how much they get. If there isn't a will, the court will appoint someone, usually an adult child or surviving spouse, to be the executor or personal representative of the deceased.

In order for a will to be finalized, it must be signed by the testator in front of two witnesses of sound mind, with the capacity to understand that they are witnessing the signing of a will. They must then sign the will themselves, in front of each other and in front of the testator (NM Stat § 45-2-502).

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.

Before the terms of a will can be accepted, the will must be proven in probate court. Probate is the court-supervised process of distributing the estate of a deceased person. In New Mexico, applications for probate must be filed along with estate papers and the will in order to open an estate.