Full question:
My mother and father were still married when he passed away. They are NM residents. Does my father's share of their estate have to go through probate? Or, dies my mother receive my father's share of their estate as surviving joint tenant and consistent with my father's will?
- Category: Wills and Estates
- Subcategory: Probate
- Date:
- State: Texas
Answer:
The probate process for your father's estate share depends on how their assets are titled. Assets that have a named beneficiary, such as those in a trust or certain accounts, typically pass outside of probate. For example, if the assets are in a survivorship account or are titled as joint tenants with right of survivorship, they automatically go to the surviving spouse without going through probate.
However, if the assets are held as tenants in common, your father's share may need to go through probate, and it could pass to heirs according to the will or state intestacy laws if there is no will.
In New Mexico, when a person dies, their assets are generally distributed through probate. If there is a valid will, an executor is appointed to manage the estate's distribution. The court issues letters testamentary to the executor, granting them authority over the deceased's affairs. The executor can then transfer property interests to the surviving spouse or other beneficiaries as outlined in the will.
For smaller estates, New Mexico has provisions that may allow for simplified procedures, but these depend on specific asset values and circumstances.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.