Estate planning options at First American Bank (New Mexico)
Preparing your First American Bank (New Mexico) accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and aligning account ownership with your broader estate plan. Both approaches bypass probate, but they work differently depending on the account type.
The transfer rules at First American Bank (New Mexico) vary across 19 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
Contact First American Bank (New Mexico) directly for information about adding or updating beneficiary designations on your accounts.
Why trust accounts are not available
First American Bank (New Mexico) does not currently support retitling accounts into a trust. The alternative is to name a trust as the Transfer on Death beneficiary, which provides similar probate-avoidance benefits while keeping the account in the individual's name.
FIRST Vantage
FIRST Choice
FIRST Start Student
FIRST Freedom Club
Interest-bearing checking that includes one box of wallet checks a year at no charge.
FIRST Rewards
NOW Account
A1 Money Fund
Pays tiered interest and is not eligible for a debit card or a mobile wallet.
First Savings
PRIDE Savings
Certificate of Deposit
Fixed rates, with early withdrawal penalties.
Trust & Wealth Management
The bank serves as trustee of personal, special needs and settlement trusts, as a court-appointed conservator, and in a decedent's estate administration, and manages investment accounts and employer retirement plans. Its trust officers work from Artesia, Albuquerque, Las Cruces and Roswell.
Traditional IRA
Rollover accounts are offered as well.
Roth IRA
Education IRA
Sources
(2)·
Data sourced from First American Bank (New Mexico) primary sources (22 pages reviewed). How we research.
First American Bank (New Mexico) estate support
Trust & Wealth Management
Trust officer, Artesia
Trust & Wealth Management, Artesia and Roswell
Trust officer, Las Cruces
Trust officer, Albuquerque
Website
Estate planning articles
Learn how to protect your First American Bank (New Mexico) accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: will, living trust, pour-over will, powers of attorney and TOD deed. Prepare each form for your state and download the PDF.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Codicil to a Will
Add, revoke or replace provisions of your will and republish the rest, signed as your state requires for a will.
Tools for Planning Your Estate
Free tools for planning your estate: will and trust costs, trust or TOD deed, and the signing rules. Run each tool for your state and read its answer.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
How Much Is the Federal Gift Tax?
Whether a gift owes federal gift tax, how much of the annual exclusion and lifetime exemption it uses, and whether Form 709 is due.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
