Upon the death of a loved one, probate is not always necessary.
If there are no assets, or very little in the way of assets, probate is probably not necessary.
• If all assets are in a joint ownership,
• or for insurance policies and retirement accounts that have a named beneficiary,
• or for bank accounts are payable upon death,
• or for brokerage accounts are transferable upon death,
probate is probably not necessary, because these assets can be transferred outside of probate.
However, if there are assets which do not have joint ownership or named beneficiaries, then probate is necessary.
This is true whether or not there is a Will.
During a hard time in anyone’s life, the loss of a loved one can be overwhelming. It is hard to know if you need an attorney. If probate is necessary, you will require an attorney. With years of expertise in New Mexico’s courts, the Grodner Law firm has the answers you need to deal with your will, trust and probate issues. If you think you need probate, consult an attorney.