Legal Question in Wills and Trusts in New Mexico
Estate Rights
My father remarried three years ago, in the state of New Mexico. I do not beleive he had a will prior to getting married nor does he have one now. He has asked me to come down so he can sign over ownership of his belongings to me. Do I have any legal rights to his possessions or do they all belong to his wife?
2 Answers from Attorneys
Re: Estate Rights
New Mexico is a community property state. Everything your father owned prior to his marriage remains his sole and separate property unless he has given it to his wife. Everything acquired after the marriage, except for inheritances, is owned 50% by the wife and 50% by the surviving children upon his death. He can convey to you anything which is not community property.
Re: Estate Rights
As stated by the NM lawyer, so long as your father did not commingle his separate property (put his wife on title to his property, real and personal, and his accounts, such as bank accounts or brokerage accounts, then all his property before marriage is still his separate property and he can give it to you if he wants to do so. He could possibly give you his half interest in the community property.
You need to know how property is titled, cars, accounts, real property, etc.. You have no legal right to his possessions, so long as he is alive, and his wife has no legal right to his separate property so long as he is alive. Upon his death, rights of inheritance are determined by state law (if no Will) or by his Last Will.
You should advise your Dad to make a durable financial and durable health care powers of attorney, so that he can have the person of his choice make decisions for him, in the event that he is incapacitated or otherwise unable to make decisions for himself.