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Small Estate Affidavit for Estates under $50,000 - New Mexico 2025

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The document is a Small Estate Affidavit used in New Mexico probate court, allowing successors of a deceased individual to claim personal property valued under $50,000 without the need for formal probate proceedings. It requires the affiant to provide personal information, details about the decedent, and affirm that no personal representative has been appointed.

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Do all estates have to go through probate in New Mexico?

In New Mexico, if your estate is worth more than $50,000, probate is required. For smaller estates or certain assets (like property held in a trust), probate might not be necessary.

What is considered a small estate in New Mexico?

A small estate is defined as one where the decedents total estate is worth less than $50,000 and does not include any real property (land, a house, a farm, etc.). Read more at Section 45-3-1201 NMSA 1978.

What is the minimum estate value for probate?

There is no set minimum legal threshold for estates to avoid probate. Each bank or institution sets its own limit. This dictates whether family and loved ones of the deceased will require a Grant of Probate to access the funds held in the particular institution.

What is the threshold for probate in New Mexico?

In New Mexico, estates valued at $50,000 or less may be exempt from probate under certain circumstances. Additionally, the process can be avoided if all property is structured to transfer automatically upon the owners death or if assets are appropriately placed within a living trust before the individuals passing.

How to fill out a small estate affidavit in New Mexico?

The Small Estate Affidavit will typically require the following information: Name of the decedent; Name of the person filling out the affidavit (aka affiant); Address of the affiant; Relationship of the affiant to the decedent; Date of death of the decedent;

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How much does an estate have to be worth to go to probate in New Mexico?

NO PROBATE REQUIRED FOR A SMALL ESTATE A small estate is defined as one where the decedents total estate is worth less than $50,000 and does not include any real property (land, a house, a farm, etc.). Read more at Section 45-3-1201 NMSA 1978.

What is the family allowance for probate in New Mexico?

Family allowance. A decedents surviving spouse is entitled to a family allowance of thirty thousand dollars ($30,000).

What is the limit for small estate affidavit in New Mexico?

That the value of the entire estate, wherever located, less liens and encumbrances, does not exceed fifty thousand dollars ($50,000.00).

Small Estate Affidavit for Estates under $50,000 - New Mexico 2025

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Do all estates have to go through probate in New Mexico?

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How much does an estate have to be worth to go to probate in New Mexico?

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