New Mexico Simple Will Lawyer

A “simple will” can refer to a will that has the bare minimum language needed. They usually follow an uncomplicated scheme for distributing property to just one beneficiary or a small group of them.

However, “simple” is in the eye of the beholder. Some ideas for wills that sound simple actually take a lot of language to cover all the legal bases.

Additionally, the will creator (called a testator) may want to cover their bases more comprehensively rather than aim to create the shortest will possible. After all, there aren’t any awards for drafting a concise will.

On the other hand, your family and other loved ones can feel rewarded when you leave behind instructions that are clear, easy to follow, and hold up to scrutiny in the event of any challenges.

Talk to a New Mexico simple will lawyer to get personalized advice on what is and isn’t needed for your will to be effective. At New Mexico Financial & Family Law, we always listen closely to your unique situation and your goals before offering suggestions on the best type of will for you.

Get started on creating a will that can leave you feeling confident about the legacy you leave behind when you reach out to a New Mexico simple will attorney. Call us at 505-503-1637 or contact us online to schedule a no-obligation consultation and estate plan review.

What Should I Bring When I Meet With a New Mexico Simple Will Attorney?

Creating a simple will is going to be a bit of a time-consuming process, no matter how concise you want the end product to be. You are going to want to thoroughly consider your unique situation with the help of a New Mexico simple will attorney — including all the unique factors related to your family, your assets, and your goals for the future.

Once you have gone over your circumstances, goals, and intended plans in detail, your attorney can make recommendations for the best and simplest will possible. Your due diligence maximizes the chances that all of your loved ones will feel relaxed and satisfied about the outcome of the will rather than stressed or upset.

To make sure that you have all the information needed to decide on the future of your estate, bring the following to your meeting with a New Mexico simple will lawyer:

• A list of all real estate and other real property owned
• A list of all accounts, including retirement and investment accounts, along with any beneficiaries listed for the accounts
• A copy of your life insurance policy contract (or specific details from your policy)
• A list of all securities owned, like stocks and bonds, along with any other significant investments
• A list of vehicles registered in your name
• A list of outstanding debts and lines of credit, including loans, credit cards, mortgages, student loans, etc.
• An inventory of any other personal property of significant value, such as art, jewelry, collectibles, electronics, etc.
• A rough schematic of your family tree, including any children from a previous marriage
• A list of your intended beneficiaries
• Any previous copies of your will or trust agreements
• A list or description of any other goals you have for estate planning, such as trust formation, creation of a living will, powers of attorney, etc.

The more information you bring from the onset, the easier and quicker that your will can be completed with the help of an attorney.

Note that your attorney eventually needs to review the actual titles, deeds, and statements related to your most valuable assets and accounts to complete your will. You can elect to bring these on the first meeting if you feel confident that you can begin drafting the will that same day.

Otherwise, you are going to have to follow up with your New Mexico simple will lawyer at a later date to provide the remaining information required.

What Is the Bare Minimum Required for a Simple Will in New Mexico?

New Mexico law does not require that you put anything specific in your will. However, any drafted will needs to be properly executed.

According to New Mexico law (NM Stat § 45-2-502), a will needs the following before it can be considered valid:

• The will must be written, referring to a physical document that is printed, typed, or handwritten in a durable form.
• The will must be signed by the testator or signed at the direction of the testator and in their presence.
• Two individuals must witness the testator signing the will, and they must then sign the will themselves in the presence of the testator and one another.

To be eligible to make a will, you must be at least 18 years old and have the capacity to understand that you are making a will and the ways it is going to affect your estate. Your witnesses also have to be at least 18 years old and have the capacity to understand they are witnessing a will.

They do not need to read the will to be a witness.

Unlike some other states, the witnesses do not have to be non-interested parties. That means they could be a beneficiary and still witness the will.

However, it may be advisable to choose someone else to serve as a witness, just in case the legitimacy of the will is challenged. The best witnesses are not beneficiaries, are acquainted with the testator, and are likely to respond to a summons if they are asked to prove the will or provide other testimony at a later date.

Clearly Identify Yourself in Your New Mexico Simple Will, and Declare Testamentary Intent

Your will should begin with a clear statement of identification, including your full legal name, date of birth, and current residential address.

You may also want to provide any aliases or “doing business as” titles if they are relevant to your finances or business operations or needed for beneficiaries to clearly recall you when they receive notice of an inheritance.

You should then clearly declare that the document you are creating is meant to serve as your last will and testament. This declaration prevents any ambiguity as to the document’s purpose and its intention to distribute your estate to loved ones.

Ensure Complete Disposal of Your Estate

One primary purpose of your will is to tell your executor (called a personal representative in New Mexico) how you want your life’s property to be distributed.

If there is any property remaining after the instructions have been followed, your personal representative is going to have questions about who you intend to inherit it. The property may then be distributed to your next-of-kin, according to intestacy laws.

To ensure that a simple will entirely disposes of your estate (meaning it completely gets rid of it), you can include a residuary clause. This clause states that any property not expressly distributed, according to the exact language of the will, goes to a specific person.

For example, you can name your spouse to receive all property remaining after the instructions of your will have been followed.

You should also list all relevant assets and name all beneficiaries precisely. These steps reduce the risk of unanswered questions when it comes time to distribute your property.

Name a Personal Representative of Your Estate

Another important function of a will is to name the person you want to handle your estate. This person is often called an “executor,” but in New Mexico, they are known as a personal representative.

You want to choose a personal representative who will be up to the task and able to follow all instructions to the letter. This person should be easy to reach in the event of your death and able to come to the district where your estate has to be probated.

In case the personal representative you name is deceased, unwilling, or unable to serve the estate, you should list a succession of possible representatives. This precaution reduces the risk that your estate ends up being managed by someone like a distant relative or a creditor if no one else is available or up to the task.

Things to Consider Including in a New Mexico Simple Will

While it is possible to write a simple will that is going to be recognized by the probate court, you may want to consider including other provisions, clauses, and sections. These can cover all your bases while making life easier for your personal representative.

The following sections can prove beneficial when included in a will:

• Testamentary Capacity Clause
• Attestation Clause
• Residuary Clause
• Revocation Clause
• No Contest Clause
• Contingency Clauses and Contingent Beneficiaries

Testamentary Capacity Clause

A testamentary capacity clause affirms that you have sound mental health and all the senses you require to accurately state your wishes and understand the gravity of the instructions you place in your will.

Some testators even take the time to have their capacity certified by a medical professional, who can sign the will or a separate document to prove that the testator was of sound mind when creating and executing their will.

Attestation Clause

The will’s witnesses can sign an attestation clause. This statement attests that they understand they are witnessing a will, that you appeared to be of sound mind, that you clearly declared your intentions to make a will, that you were not under duress, and that they have the capacity they need to witness your signing of the will and sign the will themselves.

Revocation Clause

A new will automatically revokes any older wills, according to New Mexico law. The most recent will is always considered to be the only valid will.

However, you may want to include language in your will that expressly revokes any earlier drafts. This precaution can prevent contests or disputes, especially where there is confusion as to which will to use when probating the estate.

No Contest Clause

A “no contest” clause can’t legally bar contests to your will, but it can disinherit anyone who lodges a contest and does not succeed. The risk of losing everything can prevent individuals from filing a frivolous contest in the hopes of increasing their inheritance.

Contingency Clauses and Contingent Beneficiaries

A contingency clause states what will happen if a certain situation arises.

For a simple will, one useful contingency you may want to consider is instructing a personal representative to sell a property (or the estate’s share of interest in the property) if transferring ownership of the property would create difficulties for a beneficiary.

You can also list contingent beneficiaries for any transfers in the event that a named beneficiary is no longer living, cannot be contacted, or does not wish to inherit the assets in question.

Other Considerations for a Simple Will

When drafting a simple will, consider including the following in addition to the will itself:

• Notarization — Notarizing a will makes it self-proving, meaning witnesses don’t need to be contacted.
• Funeral and Burial Instructions — Since the will is usually not read until many weeks after the decedent passes, you may want to include instructions to your personal representative and next of kin in regard to how you want to be interred and memorialized.
• Guardianship — If you have minor children, you can list someone you want to act as a caretaker for them in the will, but it may be prudent to draft other official documents designating a guardian.
• Powers of Attorney — Powers of attorney designate someone you trust to act as your agent. They come into effect when you are medically incapacitated and incapable of directing your own finances and medical care.
• Living Will (Advance Directives) — A living will states your preferences for medical treatment and life-prolonging supports when you are terminally ill or incapacitated for an extended period.
• Trust Formation — Forming a living trust can allow all your assets to bypass probate. A testamentary trust is created after your death, according to instructions in your will. It can retain the property until it is inherited later, which can be useful if your heir is a minor or could benefit from receiving investment income for an extended period.
• Personal Memorandum to Beneficiaries — This addendum to your will can explain your wishes in greater detail and express your deep feelings for the people you care about most.

Assets That Don’t Need a Will

Keep in mind that your simple will does not need to dispose of the following types of assets:

• Property held in a trust
• Retirement accounts with named beneficiaries
• Insurance proceeds for policies with named beneficiaries
• Accounts and other assets with a transfer-on-death (TOD) or pay-on-death (POD) designation
• Any assets jointly owned by a party who has rights of survivorship, including real estate

Contact Our New Mexico Simple Will Law Firm

When you’re ready to get started on your simple will, New Mexico Financial & Family Law is ready to help.

Schedule a no-obligation consultation and estate plan review with an experienced New Mexico simple will attorney when you call 505-503-1637 or contact us online.