Like many of their countrymen, New Mexicans spend their life in pursuit of the American Dream. Regardless of whether or not the dream is ever realized, you spend your life working to create and grow wealth for your family. If you do not take the time to properly plan for how that wealth will be preserved and distributed, the government will create an estate plan for you.
The government’s plan has widely been criticized for its inadequacy in meeting the needs of today’s modern families, especially families with beneficiaries with disabilities and/or minor beneficiaries with co-parents with whom good relations no longer exist.
To ensure that your family most fully benefits from the estate you have worked tirelessly to build, you need to take the time to create an estate plan. The attorneys at Roybal-Mack & Cordova, PC can help.
If you die without an estate plan of your own making, the government plan—probate and intestate succession—become your plan. Intestate succession has clear rules for how property is divided and who gets priority over whom. Unfortunately, in many cases, intestate succession means that assets are passed to someone other than the person(s) to whom you would have given real property, personal belongs, financial assets, etc.
Estate planning allows you to:
In short, estate planning is a labor of love that allows you to best provide for your family after your death.
While the government plan proves inadequate for most families, finding the right vehicles to preserve and protect your legacy requires an in-depth understanding of how probate and estate law works.
The estate planning team at Roybal-Mack & Cordova, PC can help you find the right legal and financial vehicles to meet your needs. Our attorneys are well-versed in:
In addition to creating the framework for your estate plan, we can also provide guidelines for how to fund your trust to avoid costly tax implications.
It is never too early to begin estate planning, which makes the best time to start now. Contact us to schedule a consultation with one of our Albuquerque-based estate planning attorneys. We take the time to help you understand New Mexico probate laws as well as listen to make sure we understand how you want to shape the legacy you leave your family.