Letter of Intent to Personal Representative - New Mexico

LETTER OF INTENT TO PERSONAL REPRESENTATIVE

State of New Mexico

THIS DOCUMENT IS NOT A WILL OR CODICIL. It is intended as non-binding guidance to assist my Personal Representative in administering my estate under the New Mexico Uniform Probate Code, NMSA 1978, Chapter 45.

Date of Preparation: [__/__/____]

Date of Last Revision: [__/__/____]

SECTION 1: PERSONAL INFORMATION OF THE DECLARANT

SECTION 2: DESIGNATED PERSONAL REPRESENTATIVE

Under NMSA § 45-3-203, I have nominated the following individual(s) to serve as Personal Representative of my estate. This letter provides guidance in carrying out the duties imposed by NMSA § 45-3-703.

Primary Personal Representative

Alternate Personal Representative

SECTION 3: FAMILY MEMBERS AND DEPENDENTS

Pursuant to NMSA § 45-3-705, the Personal Representative must inform persons who appear to have an interest in the estate. The following individuals should be notified:

Marital Status: ☐ Single ☐ Married ☐ Divorced ☐ Widowed ☐ Domestic Partnership

Spouse/Partner Name (if applicable): [________________________________]

NEW MEXICO COMMUNITY PROPERTY NOTE: New Mexico is a community property state under NMSA § 40-3-2. Property acquired during marriage is presumed to be community property. The Personal Representative must distinguish between community property and separate property. The surviving spouse's one-half interest in community property is not subject to probate administration. Only the decedent's one-half interest in community property and the decedent's separate property pass through probate.

SECTION 4: LOCATION OF ESSENTIAL DOCUMENTS

The Personal Representative's duties commence upon appointment under NMSA § 45-3-701. Timely access to these documents is essential.

Estate Planning Documents

☐ Last Will and Testament

• Location: [________________________________]
• Date Executed: [__/__/____]
• Attorney Who Prepared: [________________________________]

☐ Codicil(s) to Will

• Location: [________________________________]
• Date(s) Executed: [__/__/____]

☐ Revocable Living Trust

• Location: [________________________________]
• Date Executed: [__/__/____]
• Trustee(s): [________________________________]

☐ Irrevocable Trust(s)

• Location: [________________________________]
• Trust Name(s): [________________________________]

☐ Personal Property Memorandum (per NMSA § 45-2-513)

• Location: [________________________________]

☐ Durable Power of Attorney (per NMSA § 45-5B-101 et seq., Uniform Power of Attorney Act)

• Location: [________________________________]
• Agent Named: [________________________________]

☐ Health Care Power of Attorney / Advance Directive (per NMSA § 24-7A-1 et seq., Uniform Health-Care Decisions Act)

• Location: [________________________________]
• Agent Named: [________________________________]

☐ Pre-Nuptial / Post-Nuptial / Community Property Agreements

• Location: [________________________________]

Financial and Legal Records

☐ Tax returns (most recent 3 years): [________________________________]
☐ Deeds and real property titles: [________________________________]
☐ Vehicle titles and registrations: [________________________________]
☐ Business formation documents: [________________________________]
☐ Insurance policies: [________________________________]
☐ Loan and mortgage documents: [________________________________]
☐ Safe deposit box location: [________________________________]

• Bank Name: [________________________________]
• Box Number: [________________________________]
• Key Location: [________________________________]
• Authorized Signer(s): [________________________________]

SECTION 5: FINANCIAL ASSETS AND ACCOUNTS

Under NMSA § 45-3-706, the Personal Representative must prepare an inventory within three (3) months of appointment and mail it to interested persons. The following is intended to assist with that duty.

Bank and Deposit Accounts

Investment and Brokerage Accounts

Retirement Accounts

Life Insurance Policies

Other Financial Assets

SECTION 6: REAL PROPERTY

Note: Under New Mexico community property law (NMSA § 40-3-2), real property acquired during marriage is presumed to be community property. The Personal Representative must identify the character of each property.

Location of Deeds: [________________________________]

Property Tax Records Location: [________________________________]

Mineral Rights / Water Rights: [________________________________]

NEW MEXICO NOTE: In New Mexico, mineral rights and water rights may be separately owned from surface rights. The Personal Representative should investigate whether any separate mineral or water rights exist.

SECTION 7: DIGITAL ASSETS AND ONLINE ACCOUNTS

Under the Revised Uniform Fiduciary Access to Digital Assets Act (adopted in New Mexico as NMSA § 45-7-1 et seq.), the Personal Representative may access digital assets subject to certain conditions and the terms of service of each provider.

☐ Password Manager Used: [________________________________]

• Master Password Location: [________________________________]

☐ Digital Asset Inventory Location: [________________________________]

Two-Factor Authentication Device(s): [________________________________]

Instructions for Digital Accounts (close, memorialize, transfer):
[________________________________]

SECTION 8: DEBTS AND LIABILITIES

Under NMSA § 45-3-801, the Personal Representative must publish a notice to creditors. Creditors generally have two (2) months from the date of publication to present claims. The Personal Representative must also send notice to known creditors.

Secured Debts

Unsecured Debts

Other Obligations

• Pending lawsuits or legal claims: [________________________________]
• Guarantees or co-signed obligations: [________________________________]
• Tax liabilities (federal, state, local): [________________________________]
• Alimony or child support obligations: [________________________________]

Community Debt Note: Under New Mexico law, community debts may be satisfied from community property. The Personal Representative should distinguish between community debts and separate debts of the decedent.

SECTION 9: FUNERAL AND MEMORIAL WISHES

Preferred Disposition:
☐ Traditional Burial ☐ Cremation ☐ Green/Natural Burial ☐ Donation to Science ☐ Other: [________________________________]

Pre-Arranged Funeral Plan:
☐ Yes ☐ No

• Funeral Home: [________________________________]
• Address: [________________________________]
• Phone: [________________________________]
• Contract/Policy Number: [________________________________]
• Prepaid: ☐ Yes ☐ No — Amount: $[____________]

Burial / Interment Preferences:

• Cemetery: [________________________________]
• Plot Number/Location: [________________________________]
• Grave Marker Instructions: [________________________________]

Memorial Service Preferences:

• Type of Service: ☐ Religious ☐ Non-Religious ☐ Celebration of Life ☐ Private ☐ Other
• Location Preference: [________________________________]
• Officiant Preference: [________________________________]
• Music Selections: [________________________________]
• Readings or Poems: [________________________________]
• Cultural/Tribal Traditions to Observe: [________________________________]
• Flowers or Charitable Donations in Lieu: [________________________________]

Special Instructions:
[________________________________]

SECTION 10: SPECIFIC BEQUESTS AND PERSONAL PROPERTY DISTRIBUTION

Note: New Mexico recognizes a separate writing for tangible personal property under NMSA § 45-2-513. The writing must be signed by the testator and describe the items and recipients with reasonable certainty.

Separate Personal Property Memorandum Exists: ☐ Yes ☐ No

• Location: [________________________________]

Specific Items

Charitable Bequests

SECTION 11: BUSINESS INTERESTS

Buy-Sell Agreement Exists: ☐ Yes ☐ No — Location: [________________________________]

Operating Agreement / Partnership Agreement Location: [________________________________]

Business Succession Plan: [________________________________]

Key Business Contacts:
[________________________________]

Note: If the business is community property, the surviving spouse may have an interest in the business. The Personal Representative should consult with an attorney regarding community property business interests.

SECTION 12: PET CARE INSTRUCTIONS

Preferred Caretaker: [________________________________]
Alternate Caretaker: [________________________________]
Pet Trust Established: ☐ Yes ☐ No — Location: [________________________________]
Monthly Care Budget: $[____________]
Special Instructions: [________________________________]

SECTION 13: IMPORTANT CONTACTS

Legal Professionals

Financial Professionals

Other Contacts

SECTION 14: MEDICAL INFORMATION

Chronic Conditions or Special Medical Notes:
[________________________________]

SECTION 15: PERSONAL MESSAGES AND VALUES

Message to My Personal Representative:
[________________________________]

Message to My Family:
[________________________________]

Values, Traditions, or Wishes I Want Preserved:
[________________________________]

Ethical or Philanthropic Priorities:
[________________________________]

SECTION 16: NEW MEXICO-SPECIFIC PROBATE GUIDANCE

The following is a summary of key New Mexico probate procedures for the Personal Representative's reference:

1. Court: Probate matters are heard in the District Court of the county where the decedent was domiciled (NMSA § 45-1-302). New Mexico also has probate courts in each county with limited jurisdiction for informal proceedings.

2. Types of Probate:
   - Informal Probate (NMSA § 45-3-301 et seq.): Filed with the county probate court; no hearing required.
   - Formal Probate (NMSA § 45-3-401 et seq.): Filed with the district court; requires a hearing and notice to interested parties.
   - Supervised Administration (NMSA § 45-3-501 et seq.): Court-supervised administration.

3. Bond: Under NMSA § 45-3-603, bond is NOT required unless ordered by the court. However, any interested person may petition for bond.

4. Notice to Heirs and Devisees: The Personal Representative must inform interested persons of the appointment (NMSA § 45-3-705).

5. Inventory: Prepare an inventory within three (3) months of appointment and mail it to interested persons (NMSA § 45-3-706). In formal proceedings, file with the court.

6. Notice to Creditors: Publish notice under NMSA § 45-3-801. Creditors have two (2) months from publication to present claims.

7. Community Property: New Mexico is a community property state. The surviving spouse's one-half interest in community property does not pass through probate.

8. Small Estate Affidavit: Under NMSA § 45-3-1201, if the value of the entire estate (less liens and encumbrances) does not exceed $50,000 and thirty (30) days have elapsed since the date of death, personal property may be collected by affidavit.

9. Real Property Transfer by Affidavit: Under NMSA § 45-3-1201(B), if the value of real property does not exceed $50,000, it may be transferred by affidavit.

10. Closing the Estate: File a closing statement under NMSA § 45-3-1003 or petition for formal closing under NMSA § 45-3-1001.

SECTION 17: SIGNATURE AND ACKNOWLEDGMENT

I, [________________________________], being of sound mind, have prepared this Letter of Intent to assist my Personal Representative. I understand this document is not legally binding and does not replace my Last Will and Testament or any other estate planning instrument.

Signature: ________________________________

Printed Name: [________________________________]

Date: [__/__/____]

Witness (optional but recommended):

Signature: ________________________________

Printed Name: [________________________________]

Date: [__/__/____]

Sources and References

• New Mexico Uniform Probate Code (Chapter 45): https://law.justia.com/codes/new-mexico/chapter-45/
• NMSA § 45-3-703 (General Duties): https://law.justia.com/codes/new-mexico/chapter-45/article-3/part-7/section-45-3-703/
• NMSA § 40-3-2 (Community Property)
• NMSA § 45-7-1 et seq. (Revised Uniform Fiduciary Access to Digital Assets Act)
• NMSA § 45-2-513 (Separate Writing for Personal Property)