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The importance of creating a will

It can be difficult for New Mexico residents to think about their mortality. However, it can be vitally important to create a will as soon as possible. A will allows a person to dictate who takes care of a minor child or a pet. It can also allow a person to dictate who receives assets such as a car or money in a bank account.

By creating this document, it can be easier and less expensive for surviving family members to settle an estate. This is because there may be no need to wait for a court to decide how assets should be distributed. Individuals may be more motivated to write a will if they know how much it can help their families to do so. They may also be motivated by learning what could happen if they don't create a will.

For instance, the state may decide who raises a person's child, and it may be harder to protect assets that were accumulated over a lifetime. If a financially irresponsible person obtains a large sum of money, it could be spent or otherwise squandered within months. Those who are looking to create a will should expect to spend at least $300 in legal and other fees.

Writing a will may be an effective form of asset protection for an individual. This is because it may be possible to give assets to those who are most likely to use them properly. A pour-over will allows property to be put into a trust when a person passes on, and a trust may offer protection against creditor claims or from items being lost in a divorce. An attorney may be able to assist individuals with their estate planning needs.

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Offices Conveniently Located in Roswell, Albuquerque & Hobbs

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Roswell, NM 88201

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