What does a will do and why should I have one?
A will, also known as a “last will and testament”, is a legal document that gives instructions to an agent, known as a personal representative in New Mexico, about how to distribute your assets at your death to people and/or charities named in your Will. A will can help you protect your family and property by allowing you to:
-Have control over how your property is distributed at your death
-Choose who you want to be your personal representative (also known as executor or administrator), the person who ensures that the terms of your will are carried out in the manner you specified
-Leave your estate and/or property to specific people other than your spouse or children, such as friends, charity or others
-Make arrangements for the care of a disabled adult or minor child
-Name a guardian for a minor children or establish a trust for children or grandchildren
-Designate the distribution of specific items of personal property to certain people (i.e. a ring or a car)