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Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney in New Mexico for guidance tailored to your situation.

Detailed Answer

1. Petition for Probate and Appointment of Personal Representative
   The process begins when someone files a petition with the appropriate district court to open probate. The court appoints a personal representative (sometimes called an executor) to manage the estate. See NMSA 1978 § 45-3-202 (title 45-3-202).
2. Locating Estate Assets
   The personal representative must identify all assets owned by the decedent, including bank accounts, real estate, vehicles, investments, life insurance policies, digital assets, and personal property. Common steps:
   • Review financial records, tax returns, and mail for bank and brokerage statements.
   • Search county assessor and recorder’s offices for real estate.
   • Contact employers, insurance companies, and retirement plan administrators.
   • Check digital accounts and social media for potential assets.
3. Inventory and Appraisal
   Within three months of appointment, the personal representative must file a verified inventory listing all estate assets and their estimated values. For real property and unique assets, the court may require appraisals. See NMSA 1978 § 45-3-501 (title 45-3-501).
4. Notice to Creditors
   State law requires the personal representative to notify creditors so they can file claims. This involves two steps:
   • Publishing a notice once a week for three consecutive weeks in a local newspaper. See NMSA 1978 § 45-3-401 (title 45-3-401).
   • Mailing notice to known creditors within 30 days of appointment. See NMSA 1978 § 45-3-402 (title 45-3-402).

   Creditors generally have four months from the first publication date to file a claim.

5. Payment of Debts and Expenses
   After validating creditor claims, the personal representative pays debts, funeral expenses, taxes, and administrative costs. The representative must follow the priority rules set by statute. See NMSA 1978 § 45-3-507 (title 45-3-507).
6. Final Accounting and Distribution of Remaining Assets
   Once debts and expenses are paid and the creditor claim period has expired, the personal representative prepares a final accounting. The court reviews this accounting, and if approved, authorizes distribution. Distribution follows the decedent’s will or, if there is no will, New Mexico’s intestacy laws. See NMSA 1978 § 45-3-801 (title 45-3-801).

Helpful Hints

• Maintain detailed records of all communications and transactions to support your accounting.
• Seek professional appraisals for high-value or unusual assets to avoid disputes.
• Keep beneficiaries informed to reduce misunderstandings and challenges.
• Use certified mail when sending notices to known creditors for proof of service.
• Consult a probate attorney early if the estate has complex assets or potential creditor claims.