Detailed Answer
When someone dies in New Mexico, the personal representative (also called executor) oversees the estate. They must gather assets, pay valid debts, and distribute remaining property under the New Mexico Uniform Probate Code. Below are the key steps:
1. Appoint the Personal Representative
The probate court appoints a personal representative. This person gains legal authority to manage estate affairs, including notifying creditors and handling claims.
2. Gather Estate Assets
The personal representative locates and secures the decedent’s assets. They prepare a detailed inventory and appraise property values.
3. Notify Known Creditors
The representative sends written notice to each known creditor by certified mail. The notice must state the probate case number, court name, and deadline for filing claims.
4. Publish a Notice to Creditors
To reach unknown creditors, the representative publishes a notice in a local legal newspaper once a week for three consecutive weeks. See NMSA 1978 Section 45-3-802.
5. File Proof of Notice
After the final publication, the representative files an affidavit or certificate of publication with the probate court. The court then sets the date by which creditors must file claims.
6. Evaluate and Resolve Claims
Creditors typically have 30 days after the last publication date to file claims. The representative reviews each claim and decides to allow or reject it. See NMSA 1978 Section 45-3-803.
7. Pay Valid Debts
Once the court approves claims, the representative pays valid debts from estate assets. They must prioritize administrative expenses, funeral costs, taxes, and secured debts according to the probate code.
8. Distribute Remaining Assets
After settling debts and expenses, the representative distributes any remaining property to beneficiaries under the will or, if there is no will, under New Mexico’s intestacy rules.
Disclaimer: This article provides general information about New Mexico law. It does not constitute legal advice. Consult a qualified attorney for personalized guidance.
Helpful Hints
- Keep detailed records of all notices sent and received.
- Use certified mail and obtain return receipts.
- Monitor statutory deadlines carefully to avoid default.
- Check local probate court rules for specific requirements.
- Consider consulting an estate attorney for complex assets or disputes.