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New Mexico Inheritance Law & Probate Procedure

New Mexico PROBATE COURT FINDER:
- Probate Court for Grant County: Key information about your local probate court (Probate Court in New Mexico) for Grant County.
How Probate Works in New Mexico: How to handle the probate of an inheritance at Grant County's probate court.
- Here are links to:
  - New Mexico Probate Forms and the
  - New Mexico State Probate Court Website.
Small Estates Procedures in New Mexico: Learn how to use New Mexico's Small Estate procedures that can save you time and money.
- You can use an Affidavit in New Mexico for estates with less than $50,000, not counting liens or encumbrances (like a mortgage). There is a 30-day waiting period.
  
  N.M. Stat. Ann 45-3-1201.
  
  You can also use an Affidavit for real estate if a married couple owns a principal residence, valued for property tax purposes at $500,000 or less, and holds it as community property. The surviving spouse can file an Affidavit with the county clerk if no other assets require probate. (If, for example, the other assets are bank accounts held in joint tenancy and retirement accounts or life insurance that pass by beneficiary designation.) There is a six month waiting period.
  
  N.M. Stat. Ann 45-3-1205.
  
  You can use a summary probate procedure for estates in which the value of the estate, less liens or encumbrances, doesn't exceed the homestead allowance, exempt property, family allowance, and costs of administration, funeral expenses, and last illness expenses.
  
  N.M. Stat. Ann. 45-3-1203 and following.
New Mexico Estate Taxes:
- New Mexico, like most states, does not impose an estate or inheritance tax. Only a few states do.
Avoiding Probate in New Mexico. Find out what property bypasses probate death and goes directly to beneficiaries. such as:
- Transfer on Death Deeds (TODDs)

Bankruptcy & Debt

MEANS TEST CALCULATOR
- for Grant County, New Mexico (applies the state and county income and expense standards into your means test calculation. Updated with the latest median income and expense standards for May 15, 2024)
New Mexico BANKRUPTCY EXEMPTION FINDER: Search detailed listings of bankruptcy exemptions under New Mexico law and Federal law, for use in filing out Schedule C, when you file for bankruptcy.
- Federal Exemptions available in New Mexico?:
  - Yes. Federal exemptions are available.
- New Mexico Homestead Exemption
  - $150,000 (joint owners may double)
- New Mexico Vehicle Exemption
  - Motor vehicle to $10,000
New Mexico BANKRUPTCY COURT ESSENTIAL INFO: Get information about using your local bankruptcy court.
FREE BANKRUPTCY FORMS:
We'll tell you which bankruptcy forms you need and where to find them.

New Mexico Unemployment Benefits

Benefit Amounts in New Mexico: Learn how unemployment works, how much you'll get, and for how long.
- Minimum:
  - $101 per week
- Maximum:
  - $542 per week
- Duration:
  - In New Mexico, you can receive unemployment benefits for a maximum of 26 weeks under state law.
Eligibility: >Whether you qualify for unemployment.
How to Apply: How to apply for unemployment in New Mexico.
- New Mexico Department of Workforce Solutions
  - 877-664-6984
Unemployment Office Near Me? How to find your local unemployment office.
COVID-19 Benefits: We tracked the rise and fall of COVID-19 unemployment benefit payments.
New Mexico Wage & Hour Law
- New Mexico Minimum Wage:
  - The minimum wage in New Mexico is $12 an hour. Because this is higher than the federal minimum wage of $7.25, employees in The Land of Enchantment must be paid at least $12 an hour. A handful of local governments in New Mexico have passed their own minimum wage ordinances.
- Overtime Pay: Every state has rules about weekly maximum hours and overtime. Learn about the overtime laws in New Mexico and whether they apply to you.
- Wage Claims: If you're being unlawfully underpaid, you need to learn how to file a "Wage Claim" in New Mexico.
- Tips : Every state has special pay rates for tipped workers. Find out the rules for tipped workers in New Mexico.
  - In New Mexico, your employer may pay you a minimum wage of $3 an hour, as long as you earn enough in tips to bring your total hourly pay up to the full minimum wage, $12 an hour. If you don’t earn enough in tips to bring your compensation to the full minimum wage, your employer must make up the difference.