Rio Rancho, New Mexico has a legal process known as "probate." This is when a court decides whether or not a will is binding, and, accordingly, whether or not to effectuate its provisions.

As part of the probate procedure, the court in Rio Rancho, New Mexico will determine the validity of the will, inventory the decedent's assets and debts, then, assuming everything is found to be in order, distribute the estate according to the will.

Most wills name a specific person as the executor of the estate, but sometimes they don't, or the named executor is dead, out of the court's jurisdiction, or otherwise unsuitable to serve in this capacity. In these cases, a Rio Rancho, New Mexico probate court has to appoint one.

The executor is the person who initiates probate proceedings. The person who stands to inherit the most from the will is typically appointed the executor, because they will have the most incitement to help the process go as quickly as possible, so they can get their inheritance.

Duties of the Executor in Rio Rancho, New Mexico

The executor has several duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be finished before the will takes effect.

They additionally are required to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.

If the decedent was even somewhat well-off financially, it's likely that they'll have substantial amounts of both debts and assets. The executor is tasked with drafting an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.

Finally, executors have to actually put forth the effort to establish that a will is valid. As the sole legal representative of the estate, this is their job, and is required for them to inherit, giving them an incentive.

How Can A Rio Rancho, New Mexico Lawyer Help?

Because of the difficulties involved in probate, it would be a knowledgeable idea to consult with and retain a Rio Rancho, New Mexico attorney who specializes in probate, especially if you are the executor of an estate.