Families who call the beautiful and thriving city of Las Cruces home have a lot to look forward to with each new morning. At the same time, “tomorrow” always brings uncertainty. We never know when a tragedy may strike, including a serious accident or a sudden medical emergency. By taking the time to get your affairs in order with the help of a Las Cruces estate planning lawyer, your family can at the very least know that preparations have been made in case of an unfortunate event.
New Mexico Financial & Estate Planning Attorneys is highly experienced with estate planning, probate, and other areas related to property law, financial security, and elder law in Las Cruces. We can provide a passionate Las Cruces estate planning attorney to work closely with you — someone who can listen carefully to you describe your long-term goals, your financial situation, and any concerns you have about the future.
Our sole goal is to leave you feeling confident and well-prepared for anything life throws your way. Get started building towards a brighter future, one that ensures your loved ones will be well cared for, when you call a Las Cruces estate planning lawyer at (505) 503-1637 or contact us online to schedule a no-obligation case review.
As part of estate planning in Las Cruces, you can ensure that you have an up-to-date will as well as an advance healthcare directive. It can also involve going over your options for estate tax planning, digital asset planning, trust formation, financial power of attorney, and probate avoidance.
The types of estate planning documents you should create depend entirely on your unique situation. Your strategy should account for your finances, your family dynamics, your future outlook, and the risks you want to prepare for.
You should refer to a Las Cruces estate planning lawyer for personalized guidance on what your final strategy should look like. Still, speaking generally, an estate plan can include any (or all) of the following types of documents.
Every estate plan should include a will. This document is the only way to legally ensure that your hard-earned property goes to the heirs you select after you die.
Without a will, you would leave what is known as an “intestate” estate. Intestacy means that state laws (NM Stat §§ 45-2-102; 45-2-103) have complete control over who inherits what. Usually, this would be the surviving spouse and children of the person who died (AKA the decedent). While this arrangement may sound fine for some estates, the surviving spouse only inherits ¼ of the separate property owned by the decedent. Further, the children have to split everything evenly, which usually means that some property has to be sold to provide everyone with an equal cash value.
In addition to naming heirs, your will is the primary way in which you would nominate someone to serve as your executor (known as your personal representative in court proceedings). Your will can also designate guardians for any minor children or adult dependents you leave behind.
For all of these reasons, having an up-to-date will is considered the bare minimum for an estate plan. Book an appointment with a Las Cruces will lawyer to get started with creating a will or bringing an existing one up-to-date.
This set of documents gives you control over your medical care in situations where you don’t have the mental capacity to communicate your wishes on your own. An advance healthcare directive includes the following:
Your will can mention who you want to serve as guardian of your children or other dependents. You also have the option to go ahead and set up the paperwork for this transfer of guardianship to occur as smoothly as possible should both parents (or other current guardians of the child or dependent) unexpectedly die.
As part of guardianship planning, you can also prepare a living or testamentary trust and name it as the conservator of the dependents’ property should all current caretakers die.
The primary purpose of a will is to tell your personal representative who should receive property after a process called probate concludes. However, not all property has to go through probate. You can instead arrange for some property to transfer outside of probate, using the following methods:
Your Las Cruces estate planning lawyer can help you review all of your major accounts and the titles for homes and other real property. You can then ensure that all arrangements are in place to facilitate a smooth transfer of property after your death.
As part of probate, your personal representative is responsible for paying off creditors, taxes, and other debts owed by the estate. Only then can they transfer the remaining property to beneficiaries.
You can simplify the process for them by tackling any debts you can over the months or years. For the remainder of debts, you can form a strategy to have them paid easily as part of your estate plan.
If you have a lengthy mortgage that is unlikely to be paid off in the next 20+ years, for example, then you can earmark estate funds that should be used to pay off the debt. Alternatively, you could instruct the personal representative to sell the property if the selected beneficiary prefers cash over the property itself.
You can also plan for paying off all taxes, which may include estate taxes, if you happen to be an ultra-high-net-worth household (the current estate tax exemption is $13.99 million in 2025). Your personal representative is always responsible for filing a tax return for your last year of income, and they may have to file a return for the estate itself.
The most straightforward strategy for end-of-life tax planning is to have enough set aside to pay your last year’s income taxes, all anticipated debts, and then some extra just in case.
To come up with the best strategies to reduce tough decisions during probate, you can make an appointment with a Las Cruces estate planning lawyer and include these matters in your estate planning discussions. You can also refer your personal representative to our Las Cruces probate law firm to secure probate services, with the added benefit of having someone who worked with you to craft your unique estate plan during your lifetime.
Power of attorney for healthcare allows an agent to make health decisions for you while you are incapacitated. A durable financial power of attorney does the same thing, except the person you designate has the authority to conduct financial transactions in your name.
Common actions taken by an agent with financial power of attorney include withdrawing from bank accounts, making transfers, managing investments, taking distributions from retirement accounts, and conducting other business or financial affairs. In extreme cases, they may need to sell property, such as a vehicle or home, to free up money for healthcare and other bills.
Like with a healthcare power of attorney, your agent is limited to the types of actions you permit, and they must follow the instructions you provide. With this planning in place, you can prevent a situation where your family, your household finances, or your business suffers because no one can handle your affairs while you are incapacitated.
Discuss your planning options with a Las Cruces power of attorney lawyer to learn more.
Wills and trusts are two estate planning strategies that can go hand-in-hand. While some types of trusts are used almost exclusively by wealthy, others can be useful to households of any income range.
Read the section that immediately follows below for more information on the types of trusts that can be beneficial for estate planning. You can also reach out to a Las Cruces trust lawyer for guidance and assistance.
Our estate planning law firm in New Mexico has been helping families in Las Cruces and other parts of the state for over a decade. We stake our reputation on client-focused care, and we always seek to go the extra mile to protect the future our clients want to achieve.
Make an appointment with our Las Cruces estate planning law firm today to start your preparations when you call us at (505) 503-1637 or contact us online.
CallCall now to schedule your consultation 505.503.1637
Office