New Mexico Living Trust Attorney

Would life in New Mexico be better if your estate planning were done? Knowing that you have a will and a living trust in place is a carefree feeling. Maybe it's time to talk to a New Mexico living trust attorney.

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While a living trust does not replace the need for a will it can be a very valuable addition to your estate planning. Guardianship of children and pets as well as any property not in your trust should be placed in a will. Normally, the items in a will go to probate court after your death and the items in a trust do not. Keeping property out of probate court can save large amounts of time and money for your heirs.

Avoiding the expense of probate court is just one of the advantages of a living trust. There are certain tax advantages that can be very lucrative for larger estates. The Estate Tax Credit, as mandated by Congress, currently shelters up to two million dollars in estate value. Owners of estates larger than that should definitely consult with an estate planning expert and learn the benefits of a living trust as they pertain to you, and the New Mexico tax laws. These state laws remain the same regardless of whether you live in Albuquerque, Santa Fe or Farmington. And no one knows these laws better than a New Mexico living trust attorney.

In most cases a living trust, unlike a will, cannot be contested. Your successor trustee will file simple documents moving property out of the trust and assigning it to individuals in accordance to your wishes. This is an effective tool to keep your heirs from fighting over your estate when you pass on.

A simple trust is usually straightforward and uncomplicated. Of course, the larger the estate, the more complicated it gets. There are many situations where it would be wise to hire an expert. If you do it yourself, websites such as Legal Zoom and NOLO provide valuable information. The forms, the software and even the do it yourself books are all available.

When the purpose of your living trust goes beyond just avoiding probate court it might be worth hiring an attorney to get all of the right paperwork in order for you. Sometimes the advice given by an expert is worth many times the cost. Finding a qualified New Mexico living trust attorney should be easy. There are places like Legal Match that are ready to help.

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