Legal Question in Wills and Trusts in New Mexico
New Mexico is a community property state. Does a revocable trust with a named beneficiary other than the spouse take precedence to that property right?
Asked on 7/01/10, 8:15 am
1 Answer from Attorneys
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
No. With few exceptions, all property of the community is owned jointly by the spouses. Property held individually prior to the marriage, and inheritances, are examples of exceptions. Otherwise, it is not legal for one spouse to attempt to deprive the other of any interest in community property by use of a trust or any other legal device.
Answered on 7/02/10, 6:53 am