Under New Mexico state law, an individual must submit an application and acceptance form to the court along with an original death certificate and letters of administration to open a probate case, according to the Bernalillo County Court of Wills, Estates & Probates. The law allows probate courts to admit wills to probate and appoint personal representatives only in uncontested proceedings with no hearings.Continue Reading
New Mexico state law determines a priority of claims and expenses, and divides the priority of payment into the six following classes: funeral expenses, administration expenses, federal and state taxes, expenses, and any other allowed creditor claims, explains BFD Lawyers. If there are not enough assets in the estate to pay all the claims, state law requires funds to pay administration fees first, such as employee pay checks still owed, then funeral expenses second. Any creditor claims are considered last after everything else is paid.
New Mexico state laws allows a statutory, or familial, allowance of up $30,000 for the surviving spouse and $15,000 for any surviving heirs, paid to the estate's heirs before assets are used to satisfy any claims by creditors, states BFD Lawyers. Creditors may only file a claim against the estate up to one year after the death of the estate owner, or up to several months after probate proceedings begin.Learn more about Law