You’ve probably heard the term, “will” before, but many people don’t actually know how wills work. A will, or alternatively, a last will and testament, is an instruction sheet that discusses what should happen with a person’s dependent children and property after he/she dies.
A will allows you to:
Select who will care for your children and their property
Provide for pets
Select who will receive what property
Choose how taxes and debts are paid
Do I Need a Will?
In the absence of a will, New Mexico state law determines who will care for your children and who will inherit your property. For some, this is sufficient. However, if you would like to include any specifics about who should inherit what, or designate a particular family member as the caretaker for your children it is important to write a will.
A will is also important in designating someone to settle your affairs and ensure that your will is carried out as it was intended.
What Happens if I Don’t Have a Will?
If you have minor children, a judge determines who will care for them. In many cases the judge’s determination is the preferred choice anyway, however in some cases this determination may not be ideal.
Additionally, if you have more than one child, you may want to specify how your assets will be divided between them. Failure to do this can cause disputes between family members as your beneficiaries cope with losing a loved one while also dealing with that loved one’s material possessions.
How Can I Get a Will?
Although wills do not have to be prepared by a lawyer, hiring a New Mexico lawyer can help you navigate the legal obstacles that may present themselves. With a wealth of experience in this area, Decker Law Office LLC can make sure that you’re including everything that you need to to ensure that your will is carried out smoothly. Call 505-369-6272 to speak with Decker Law Office LLC now.