Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
Probate services refer to the legal services provided to individuals or families involved in the administration of a deceased person’s estate. These services typically involve the court-supervised process of distributing the deceased person’s assets and properties to their beneficiaries or heirs according to their will or state laws if there is no will. Probate services may include drafting and filing legal documents, representing clients in court, resolving disputes between beneficiaries, managing estate assets, and advising clients on tax implications and strategies for asset protection. The goal of probate services is to ensure that the estate is distributed in an orderly and fair manner while minimizing costs and maximizing the value of the estate for the beneficiaries. Probate services are often provided by lawyers, but may also be provided by other professionals such as estate planners or financial advisors.
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There is no legal requirement that anyone give anyone else money or property when they pass. The law says that as long as you understand what you’re doing, you can give your assets to anyone you feel like giving them to, equal or not.
Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.
I’m looking for guidance on where to start with planning, in case something happens to me or my husband.
Retirement accounts fall into a category of assets that pass to heirs directly outside of the will and are not subject to probate. That is, if the paperwork is in order.
An executor is the person whom you name to handle the settlement of your estate after you die, taking your estate through probate, a court-supervised process that winds up your affairs in the state where you were living at the time of your death.
Your estate plan should certainly be revised, if you have gotten married or divorced.
What will happen to your assets when you can no longer manage them?
According to a recent Gallup poll, a little over half (54%) of adults in America don’t have a will.
A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies.
