A last will and testament in Santa Fe may vary in complexity depending on the nature of your estate and family relationships both based on heredity and marriage. A simple will can provide an effective method for distributing your assets, establishing trusts, choosing a guardian for your children and selecting a personal or administrative representative. Many times a simple will is only one critical component in your overall estate plan, which may include multiple estate planning documents.
Although a complex will typically addresses all of the same issues included in a simple will, the arrangements for accomplishing these goals may be more sophisticated and intricate. If you have a substantial estate with high net worth or complex assets, such as multiple real estate holdings, retirement accounts, ownership interests in businesses, life insurance coverage, investment vehicles or other similar property, you may need a complex will. A complex will also may be appropriate to address the establishment or administration of a trust or to address estate tax planning issues. Even if you do not have a large estate, you may still face complex issues based on the character of your assets or the complexity of your family relationships, such as multiple marriages, divorce or children from prior marriages. Situations like this make a complex will essential to seeing that your intentions for providing for your loved ones are fulfilled.
One of the most important issues when considering a will is whether this type of estate planning document is appropriate given your specific needs. Effective estate planning may address a wide range of issues including asset protection, inheritance of property, reduction of tax obligations and other issues. An experienced New Mexico Estate Planning attorney can meet with you and analyze the complexity of your estate and family relationships to determine the best estate planning tools for your situation. While many estate plans include a will, there are many different ways that a will may be customized to fit your unique situation.
We understand the importance of protecting the wealth and property that you spent a lifetime building. Carefully crafting your last will and other estate planning documents ensures that your estate is handled properly when you pass away. If you have questions about a will or the probate process in New Mexico, our Estate Planning Probate Attorneys at Life Leaf Legal Group, PC offer a free consultation in our centrally located offices in Santa Fe and Albuquerque so that we can discuss your specific situation. Call us today to schedule your free consultation at (505) 856-3591 to learn about your rights and options. Or click HERE to set up an appointment.
The above information is designed solely to illustrate general principles of law, and does not constitute a specific legal opinion on individual cases. We suggest that you contact experienced legal counsel for a specific opinion tailored to your individual circumstances.