After a death in New Mexico, the estate either qualifies for the simplified procedure for estates under $50,000§ 45-3-1201Verified Sep 8, 2026View source or goes through probate, where creditors have 4 monthsNMSA § 45-3-801 (four months from first publication; sixty days from mailed notice, whichever is later); § 45-3-803 (claims barred at the earlier of one year after death or the § 45-3-801 periods)Verified Sep 8, 2026View source to file claims after notice.
Certified copies come from the New Mexico Department of Health - Bureau of Vital RecordsNew Mexico Department of Health - Bureau of Vital RecordsVerified Oct 15, 2026View source; the funeral home usually places the first order. Each certified copy costs $5New Mexico Department of Health - Bureau of Vital RecordsVerified Oct 15, 2026View source, and standard processing takes 6-12 weeks by mail; 3-5 business days through VitalChekNew Mexico Department of Health - Bureau of Vital RecordsVerified Oct 15, 2026View source. Banks, insurers, government agencies and retirement plans each want a certified copy, so the first order is for several. The New Mexico death certificate guide carries the ordering details.
New Mexico sets an order for who controls the disposition of remains: surviving spouse, then majority of surviving adult children, then surviving parentNMSA 1978 § 24-12A-2Verified Oct 17, 2026View source. The state allows you to name your own agent in advanceNMSA 1978 § 24-12-4(A)(2)Verified Oct 17, 2026View source, and a written designation outranks the default order. The New Mexico burial and cremation law guide carries the rest of the rules.
Only for what the decedent owned alone with no beneficiary named. Assets in a living trust, accounts with a named beneficiary and property owned jointly with right of survivorship pass outside probate. For the rest, New Mexico allows estates valued at $50,000§ 45-3-1201Verified Sep 8, 2026View source or less to use the Small Estate Affidavit§ 45-3-1201Verified Sep 8, 2026View source, which avoids full probate administration. The Small Estate Affidavit is presented directly to the bank, employer, or other holder of the property — it is not filed with a court. The waiting period is 30 days§ 45-3-1201Verified Sep 8, 2026View source after death.
The opening petition is prepared to statute and filed with the County Probate CourtNMSA 1978, §§ 45-3-301 (informal application), 45-3-103 & 45-3-601 (issuance of letters), 45-3-203 (priority), 45-3-715 (powers), 45-3-108 (three-year limit); 45-3-402 (formal probate)Verified Aug 24, 2026View source. Clerk of the Probate Court issues Letters Testamentary or Letters of Administration after the court grants the petition. The New Mexico Letters Testamentary guide carries the documents, the bond and the self-filing rules.
A simple estate in New Mexico typically settles in 4 months to 6 months, and an average estate in 6 months to 12 months. The creditor claim period of 4 monthsNMSA § 45-3-801 (four months from first publication; sixty days from mailed notice, whichever is later); § 45-3-803 (claims barred at the earlier of one year after death or the § 45-3-801 periods)Verified Sep 8, 2026View source is the floor: final distribution waits for it to run. Assets in a living trust settle privately, without the court's timeline.
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Free forms for settling an estate in New Mexico: probate petition, small estate affidavit, creditor notice and closing forms. Prepare each form for New Mexico.
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IRS Form 56
Notify the IRS that you are the fiduciary of an estate, a trust or a person, or end a notice filed before, on the official form.
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Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
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Notice to Creditors
In New Mexico, creditors have 4 monthsNMSA § 45-3-801 (four months from first publication; sixty days from mailed notice, whichever is later); § 45-3-803 (claims barred at the earlier of one year after death or the § 45-3-801 periods)Verified Sep 8, 2026View source from first publication to present claims.
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Renunciation of Executor
In New Mexico, a person named as personal representative may renounce the right to serveNMSA 1978, § 45-3-203(C)Verified Sep 23, 2026View source before anyone is appointed.
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Small Estate Affidavit
In New Mexico, the Small Estate Affidavit§ 45-3-1201Verified Sep 8, 2026View source covers estates valued at $50,000§ 45-3-1201Verified Sep 8, 2026View source or less, 30 days§ 45-3-1201Verified Sep 8, 2026View source after death, presented directly to the bank or other holder, not filed with a court.
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Estate Inventory
In New Mexico, the personal representative files the estate inventory within 90 daysNMSA § 45-3-706Verified Sep 15, 2026View source of appointment.
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Estate Closing
In New Mexico, the personal representative is discharged automatically once the statutory period runsNMSA § 45-3-1003(B); § 45-3-1005Verified Sep 15, 2026View source, and a final accounting is required.
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IRS Form 1310
Claim a refund due a deceased taxpayer on the official form, on the box the form routes you to, with what the form says to attach.
Free tools for settling an estate in New Mexico: whether probate is needed, executor and trustee pay, creditor deadlines and taxes. Run each tool.
How Many Death Certificates Do I Need?
In New Mexico, certified death certificates come from the New Mexico Department of Health - Bureau of Vital RecordsNew Mexico Department of Health - Bureau of Vital RecordsVerified Oct 15, 2026View source; the first copy costs $5New Mexico Department of Health - Bureau of Vital RecordsVerified Oct 15, 2026View source.
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Do I Need Probate?
In New Mexico, estates valued at $50,000§ 45-3-1201Verified Sep 8, 2026View source or less skip probate with the Small Estate Affidavit§ 45-3-1201Verified Sep 8, 2026View source,30 days§ 45-3-1201Verified Sep 8, 2026View source after death.
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What Happens to Jointly Owned Property When an Owner Dies?
When a joint owner dies in New Mexico: New Mexico law names no affidavit to record when a joint tenant dies. The conveyance that expressly declares the joint tenancy runs to the survivor, and no person is required to record a death certificate to change titleNMSA 1978 §§ 14-8-1 to 14-8-17, 14-9-1 to 14-9-9, 47-1-1 to 47-1-57, 40-3-1 to 40-3-17 and 45-3-1205Verified Oct 26, 2026View source.
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Do I Have to File Tax Returns for Someone Who Died?
New Mexico requires a final state income tax return for the decedent alongside the federal Form 1040N.M. Stat. Ann. § 7-2-7(B) (as amended by HB252, 2024, Laws 2024 Ch. 67 § 5)Verified Sep 20, 2026View source; a federal estate tax return (Form 706) is required only for estates above $15,000,00026 USC 2001(c), 2010; P.L. 119-21 §70106Verified Sep 15, 2026View source.
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How Do I Settle an Estate?
Settling an estate in New Mexico: the personal representative files the estate inventory within 90 daysNMSA § 45-3-706Verified Sep 15, 2026View source of appointment; creditors have 4 monthsNMSA §§ 45-3-801, 45-3-803, 45-3-806, 45-3-1006Verified Oct 19, 2026View source to present claims; a simple estate closes in 4 months to 6 months.
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How Much Are Estate & Inheritance Taxes?
New Mexico levies no estate or inheritance taxNMSA 1978 §§ 7-7-3(A), 7-7-2(D) (Estate Tax Act — pick-up tax equal to the IRC § 2011 federal credit, $0 since 1/1/2005)Verified Sep 15, 2026View source; only the federal estate tax applies above $15,000,00026 USC 2001(c), 2010; P.L. 119-21 §70106Verified Sep 15, 2026View source.
Calculate the Tax
What Taxes Apply to My Inheritance?
New Mexico imposes no inheritance or estate taxNMSA 1978 §§ 7-7-3(A), 7-7-2(D) (Estate Tax Act — pick-up tax equal to the IRC § 2011 federal credit, $0 since 1/1/2005)Verified Sep 15, 2026View source; probate assets arrive when the estate closes, 4 months to 6 months for a simple estate.
New Mexico Executor ChecklistOfficial NMSA 1978 text, Chapter 45 (Uniform Probate Code), New Mexico Compilation Commission (canonical host NMOneSource, which captcha-walls automation), read verbatim on the Justia 2025 New Mexico Statutes codified mirror — first 2026-07-14, re-verified 2026-09-08: § 45-1-101 (UPC short title); §§ 45-3-301, 45-3-302, 45-3-303, 45-3-306, 45-3-307 (informal probate and informal appointment by the probate or district court, no hearing — § 45-1-307, the registrar/probate-court-powers section, was repealed by Laws 2023, ch. 44, § 16); §§ 45-3-603, 45-3-605 (no bond in informal proceedings; will may relieve bond; bond on demand by an interested person over $7,500); § 45-3-704 (PR proceeds without adjudication, order or direction of the district court unless supervised); §§ 45-3-706, 45-3-707 (PR-prepared inventory within three months; appraisers permissive — no probate referee); §§ 45-3-715(A)(21), 45-3-720, 45-3-721 (employment of attorneys, estate-litigation fees, court review of the reasonableness of compensation — no statutory percentage); § 45-3-719 (PR entitled to reasonable compensation); § 45-3-801 (four months from first publication, or sixty days from mailed notice, whichever is later; repealed and reenacted by Laws 2016, ch. 69, § 715); § 45-3-803 (claims barred at the earlier of one year after death or the § 45-3-801 periods); § 45-3-1201 (small estate affidavit — $50,000 on the entire estate less liens and encumbrances, thirty days, may not perfect title to real estate; History ends at Laws 2011, ch. 124, § 50, eff. 1/1/2012); §§ 45-3-1202, 45-3-1203, 45-3-1204, 45-3-1206 (holder discharge; summary administrative procedure keyed to allowances and expenses with no dollar ceiling; closing by the personal representative's verified statement; purchaser/lender protection) — all six sections of Part 12 read end to end 2026-09-08; § 45-3-1205 (surviving-spouse homestead affidavit — six months, $500,000 assessed value). Enacted-act cross-checks at nmlegis.gov: Laws 2011, ch. 124 (SB 146) and Laws 2016, ch. 69 (SB 155). Session currency 2026-09-08: all 385 final (passed) bill PDFs of the 2025 Regular, 2025 Special, 2025 Special2 and 2026 Regular sessions were downloaded from nmlegis.gov/Sessions/<session>/final/ and scanned — zero hits for "45-3-", "Uniform Probate Code" or "probate" (positive controls: "NMSA 1978" in 231 files, "section" in 292, "court" in 99; nonsense control 0), so no 2025 or 2026 session law touched NMSA Chapter 45. Corroborated by NM Supreme Court approved forms 4B-302 / 4B-304 (informal probate application and order) and 4B-501 (notice to creditors — four months from first publication or sixty days from mailing, whichever is later), nmcourts.gov. Court fees: NMSA § 34-7-14 ($30 probate court filing fee per case); § 34-6-40(A) ($117 district court civil docketing fee) plus § 34-6-45(A) ($15 ADR fee) = the $132 published district court civil filing fee; § 34-7-10(B) (no district-court filing fee on transfer from probate court). Re-verified 2026-09-08 on the Justia 2025 New Mexico Statutes codified edition (law.justia.com/codes/new-mexico/chapter-45/... and /chapter-34/...) per the NM access route — the official nmonesource.com reader captcha-walls automation — plus §§ 45-1-302 (probate/district court jurisdiction), 45-1-307 (repealed), 45-3-1001 and 45-3-1003 (closing; no sworn-statement close earlier than six months after appointment), and the live nmcourts.gov First and Thirteenth Judicial District fee schedules and AOC SRL_Probate.pdf ("The current cost to file probate in Probate Court is $30").Verified Sep 8, 2026View source
Notify immediate family members
Contact close family members who need to know. Coordinate funeral arrangements and gather contact information for extended family and friends.
Confirm who has authority over final arrangements
State law sets the order of who has the legal right to decide burial, cremation, or other disposition. A written pre-need designation by the deceased, if one exists, controls. Confirm who holds this authority before arrangements are made.
New Mexico: State law sets the order of who controls disposition of remains. Order: Decedent's own written instructions per § 24-12A-1 (signed statement, notarized or witnessed by two persons, or express statement in the will); then Surviving spouse; then Majority of surviving adult children; then others in statutory order. A written pre-need designation by the deceased, if one exists, controls over this order.
Arrange burial, cremation, or other disposition
Work with a funeral home, crematory, or other provider to arrange disposition of the body. State rules govern cremation waiting periods, required authorizations, and burial or disposition permits. The funeral home typically provides certified death certificates and files the death certificate with vital records.
New Mexico: Medical examiner authorization is required before cremation. A burial or disposition permit is required, issued by the state registrar or a local registrar, when the body leaves New Mexico or someone other than a licensee handles the disposition (§ 24-14-23(B)). The death certificate must be filed within 5 days. It must also be filed before final disposition, and the medical certification is signed within 48 hours after death (§ 24-14-20). Typical state costs: direct cremation ~$1,200, direct burial ~$2,800, traditional funeral ~$7,500.
Request 10-15 certified copies from the funeral home or state vital records office. You will need these for banks, insurance companies, government agencies, and other institutions. Each institution typically requires an original certified copy.
New Mexico: Order from New Mexico Department of Health - Bureau of Vital Records. Fee: $5/copy ($5 additional). Available: online, phone, mail, in-person. Processing: 6-12 weeks by mail; 3-5 business days through VitalChek.
Change locks if necessary, ensure the home is secured, and safeguard valuable items. Review who has keys and whether security measures are needed.
New Mexico: Homestead exemption up to $150,000.NMSA § 42-10-9; § 42-10-14(A) (CPI adjustment)Verified Sep 15, 2026View source
Locate estate planning documents
Find the original will, trust documents, and any amendments. Check the home, safe deposit box, and contact any attorney the deceased worked with.
Determine if probate is necessary
Evaluate whether the estate qualifies for small estate procedures or if full probate is required based on asset values and types.
New Mexico: Small estate affidavit available for estates under $50,000. Informal (unsupervised) probate available. Independent administration reduces court oversight.Official NMSA 1978 text, Chapter 45 (Uniform Probate Code), New Mexico Compilation Commission (canonical host NMOneSource, which captcha-walls automation), read verbatim on the Justia 2025 New Mexico Statutes codified mirror — first 2026-07-14, re-verified 2026-09-08: § 45-1-101 (UPC short title); §§ 45-3-301, 45-3-302, 45-3-303, 45-3-306, 45-3-307 (informal probate and informal appointment by the probate or district court, no hearing — § 45-1-307, the registrar/probate-court-powers section, was repealed by Laws 2023, ch. 44, § 16); §§ 45-3-603, 45-3-605 (no bond in informal proceedings; will may relieve bond; bond on demand by an interested person over $7,500); § 45-3-704 (PR proceeds without adjudication, order or direction of the district court unless supervised); §§ 45-3-706, 45-3-707 (PR-prepared inventory within three months; appraisers permissive — no probate referee); §§ 45-3-715(A)(21), 45-3-720, 45-3-721 (employment of attorneys, estate-litigation fees, court review of the reasonableness of compensation — no statutory percentage); § 45-3-719 (PR entitled to reasonable compensation); § 45-3-801 (four months from first publication, or sixty days from mailed notice, whichever is later; repealed and reenacted by Laws 2016, ch. 69, § 715); § 45-3-803 (claims barred at the earlier of one year after death or the § 45-3-801 periods); § 45-3-1201 (small estate affidavit — $50,000 on the entire estate less liens and encumbrances, thirty days, may not perfect title to real estate; History ends at Laws 2011, ch. 124, § 50, eff. 1/1/2012); §§ 45-3-1202, 45-3-1203, 45-3-1204, 45-3-1206 (holder discharge; summary administrative procedure keyed to allowances and expenses with no dollar ceiling; closing by the personal representative's verified statement; purchaser/lender protection) — all six sections of Part 12 read end to end 2026-09-08; § 45-3-1205 (surviving-spouse homestead affidavit — six months, $500,000 assessed value). Enacted-act cross-checks at nmlegis.gov: Laws 2011, ch. 124 (SB 146) and Laws 2016, ch. 69 (SB 155). Session currency 2026-09-08: all 385 final (passed) bill PDFs of the 2025 Regular, 2025 Special, 2025 Special2 and 2026 Regular sessions were downloaded from nmlegis.gov/Sessions/<session>/final/ and scanned — zero hits for "45-3-", "Uniform Probate Code" or "probate" (positive controls: "NMSA 1978" in 231 files, "section" in 292, "court" in 99; nonsense control 0), so no 2025 or 2026 session law touched NMSA Chapter 45. Corroborated by NM Supreme Court approved forms 4B-302 / 4B-304 (informal probate application and order) and 4B-501 (notice to creditors — four months from first publication or sixty days from mailing, whichever is later), nmcourts.gov. Court fees: NMSA § 34-7-14 ($30 probate court filing fee per case); § 34-6-40(A) ($117 district court civil docketing fee) plus § 34-6-45(A) ($15 ADR fee) = the $132 published district court civil filing fee; § 34-7-10(B) (no district-court filing fee on transfer from probate court). Re-verified 2026-09-08 on the Justia 2025 New Mexico Statutes codified edition (law.justia.com/codes/new-mexico/chapter-45/... and /chapter-34/...) per the NM access route — the official nmonesource.com reader captcha-walls automation — plus §§ 45-1-302 (probate/district court jurisdiction), 45-1-307 (repealed), 45-3-1001 and 45-3-1003 (closing; no sworn-statement close earlier than six months after appointment), and the live nmcourts.gov First and Thirteenth Judicial District fee schedules and AOC SRL_Probate.pdf ("The current cost to file probate in Probate Court is $30").Verified Sep 8, 2026View source
Ensure mail is collected regularly to identify bills, accounts, and important correspondence. Forwarding mail to the executor/trustee is common practice.
Report the death to Social Security. The funeral home often does this, but verify it was done. Surviving spouse may be eligible for benefits.
Federal: Timing: Application for the lump-sum death payment: within 2 years of the date of death. Proof of support for a dependent parent's benefit: within 2 years of the worker's death. The funeral home reports the death.
Cancel Medicare coverage and return the Medicare card. If on Medicaid, notify the state agency to avoid benefit continuation.
New Mexico: Medicare: Repayment of a Medicare Secondary Payer demand against the estate: within 60 calendar days of the demand; interest is assessed from the date the demand letter was mailed. Claim for services furnished before death: within 12 months of the date of service. If the deceased received Medicaid, New Mexico's estate recovery program (New Mexico Health Care Authority, Medical Assistance Division, Estate Recovery Program) may file a claim against the estate for benefits paid. Exemptions and hardship waivers are state-specific.
If the deceased was a veteran, notify the VA to stop benefits and inquire about burial benefits and survivor benefits.
Federal: Timing: DIC or death pension application, for an award effective from the month of death: within 1 year of the date of death; Payments start from the filing date instead of the first day of the month of death.. Claim for accrued benefits: within 1 year of the beneficiary's death. Claim for lump-sum accrued benefits withheld from a competent veteran during hospital, institutional or home care: within 5 years of the beneficiary's death. Request to be substituted into the veteran's pending claim or appeal: within 1 year of the date of death. Burial allowance claim for a death that was not service connected: within 2 years of the veteran's burial. Burial allowance claim where VA upgraded the discharge from dishonorable after death: within 2 years of the upgrade.
Contact life insurance companies to file claims. Also notify health, auto, and homeowner insurance to update or cancel policies.
New Mexico: Divorce automatically revokes beneficiary designations naming a former spouse on life insurance, retirement accounts, POD bank accounts, TOD investment accounts, annuities (NMSA § 45-2-804). Employer plans governed by federal law (ERISA) and federal benefits are not affected by the state rule. Confirm whether any designation predates a divorce before it is paid out.
Place a deceased alert or credit freeze with Equifax, Experian, and TransUnion to prevent identity theft. Over 2 million deceased identities are stolen annually.
Locate deeds, mortgage statements, property tax bills, and homeowner insurance policies for all real property. Check the county recorder for any recorded Transfer on Death deeds.
New Mexico: Homestead exemption up to $150,000. New Mexico allows Transfer on Death (TOD) deeds. Check the county recorder's office to see if a TOD deed was recorded -- if so, the property transfers outside probate.NMSA § 42-10-9; § 42-10-14(A) (CPI adjustment)Verified Sep 15, 2026View source
Whoever holds the original will hands it to the probate court, or to the executor it names, within the period state law sets. The will becomes part of the court record whether or not probate is opened.
Obtain an EIN for the estate
Apply for an Employer Identification Number (EIN) from the IRS. The estate needs its own tax ID to open bank accounts and file tax returns.
Once appointed by the court, obtain letters testamentary (with will) or letters of administration (without will). These prove your authority.
New Mexico: Letters Testamentary are issued by the Clerk of the Probate Court, after the applicant files a signed Acceptance of Appointment (4B-305) affirmed under penalty of perjury. The state's title for the role is Personal Representative. The Letters document is official form 4B-307 (will) / 4B-306 (no will) (Letters Testamentary (4B-307) / Letters of Administration (4B-306)). Typically filed with the petition: Death certificate (original) — presented to the probate judge at filing so the date of death can be confirmed, then returned to the personal representative; county intake practice, not a statutory, rule, or form requirement; Original will and any codicils (attached to the 4B-302 application when testate); Acceptance of appointment as personal representative (Form 4B-305), signed and affirmed under penalty of perjury (NMSA 1978, §§ 45-3-307, 45-3-601); Order for informal probate / appointment for the probate judge to sign (Form 4B-304 will / 4B-303 no will); Notice of informal appointment of personal representative (Form 4B-401) with proof of notice (Form 4B-402).NMSA 1978, §§ 45-3-301 (informal application), 45-3-103 & 45-3-601 (issuance of letters), 45-3-203 (priority), 45-3-715 (powers), 45-3-108 (three-year limit); 45-3-402 (formal probate)Verified Aug 24, 2026
If the court requires a bond, obtain a surety bond from an insurance company. The bond protects beneficiaries from executor misconduct.
New Mexico: Bond generally not required. Typical premium: 0.5% of estate value.NMSA § 45-3-603 (no bond in informal proceedings; will may relieve bond); § 45-3-605 (demand for bond)Verified Sep 8, 2026View source
Open an estate bank account
Open a dedicated checking account for the estate using the EIN and letters testamentary. All estate income and expenses flow through this account.
Consider hiring a probate attorney
For complex estates or if unfamiliar with probate, hiring an attorney is common. Many states allow statutory attorney fees.
New Mexico: Attorney fees typically 1.8-2.9% of estate.NMSA § 45-3-715(A)(21) (PR may employ attorneys); § 45-3-721 (court review of the compensation); § 45-3-720 (estate litigation expenses, incl. attorneys fees); no statutory percentageVerified Sep 8, 2026View source
Publish a notice in a local newspaper to alert potential creditors. This starts the creditor claim period running.
New Mexico: Publication is optional in New Mexico, but publishing for 3 consecutive weeks is what starts the claim period. The executor places the notice with the newspaper directly. Creditors have 4 months from first publication to file claims. Direct notice to a known creditor is optional and does not shorten their deadline — they get the later of the claim period or 60 days from the mailing. Proof of publication must be filed with the court.NMSA §§ 45-3-801, 45-3-803, 45-3-806, 45-3-1006Verified Oct 19, 2026View source
Identify email accounts, social media, online banking, cryptocurrency, and other digital assets. Note any password managers used.
New Mexico: New Mexico has adopted digital asset access laws (2017). User authorization or court order may be required to access accounts. Online tool authorizations (like Google Inactive Account Manager) are valid.NMSA §§ 46-13-1 to 46-13-18Verified Sep 15, 2026View source
Search the state unclaimed property database for forgotten bank accounts, uncashed checks, insurance proceeds, and refunds owed to the deceased. Estates frequently recover assets the deceased never tracked.
New Mexico: Search New Mexico Taxation and Revenue Department, Unclaimed Property Unit for forgotten accounts, refunds, and uncashed checks owed to the deceased.
Maintain property, continue paying mortgage and taxes, arrange for property management if needed, and prepare for sale or transfer.
New Mexico: New Mexico is a community property state. Real property acquired during marriage belongs to both spouses equally. Community property receives a full step-up in basis. File appropriate affidavits with the county recorder to establish surviving spouse ownership.NMSA § 40-3-8; § 40-3-13(A); § 45-2-807(A)Verified Sep 15, 2026View source
Contact retirement account custodians about beneficiary claims. IRAs and 401(k)s typically pass by beneficiary designation, not through the estate.
New Mexico: Divorce automatically revokes beneficiary designations naming a former spouse on life insurance, retirement accounts, POD bank accounts, TOD investment accounts, annuities (NMSA § 45-2-804). Employer plans governed by federal law (ERISA) and federal benefits are not affected by the state rule. Confirm whether any designation predates a divorce before it is paid out.
Prepare and file an inventory of all estate assets with their values. The filing deadline runs from your appointment as personal representative and is set by state law.
Inventory due 90 days after appointment as personal representativeNMSA § 45-3-706Verified Sep 15, 2026View source
New Mexico: Inventory due within 90 days of appointment — you may either file it with the court or send it to interested persons who request it. You set the fair-market values yourself; no independent appraiser is required. Supplemental inventory required for assets discovered after the initial filing.NMSA § 45-3-706Verified Sep 15, 2026View source
Review claims submitted by creditors. Reject invalid claims and pay valid debts from estate/trust assets.
New Mexico: After a claim is rejected, the creditor has 60 days to sue on it. If the estate cannot pay every claim, payment order: Costs and expenses of administration; then Reasonable funeral expenses; then Debts and taxes with federal preference; then remaining claims in statutory order.NMSA §§ 45-3-801, 45-3-803, 45-3-806, 45-3-1006Verified Oct 19, 2026View source
Do not make final distributions until the creditor claim period has expired. This protects you from personal liability.
Creditor claim period: 4 months from first publication of the creditor noticeNMSA §§ 45-3-801, 45-3-803, 45-3-806, 45-3-1006Verified Oct 19, 2026View source
New Mexico: Creditor claim period is 4 months from first publication. All claims are barred 1 year after death regardless of notice.NMSA §§ 45-3-801, 45-3-803, 45-3-806, 45-3-1006Verified Oct 19, 2026View source
File a final IRS Form 1040 for the deceased covering January 1 through date of death. Write "DECEASED," the decedent's name, and the date of death across the top of the return. If filing jointly with a surviving spouse, include both incomes. Attach Form 1310 to claim a refund, unless you are the surviving spouse filing a joint return or a court-appointed personal representative attaching a copy of the court certificate to the original return.
IRS Form 1040 due April 15 following year of death26 USC 6012(b)(1)
New Mexico: File PIT-1 (New Mexico Personal Income Tax Return) for January 1 through date of death. Due the same day as the decedent's federal income tax return. The decedent's spouse or personal representative files the final PIT-1.N.M. Stat. Ann. §§ 7-2-3, 7-2-7(B), 7-2-12Verified Sep 10, 2026View source
If the estate or trust earns income during administration ($600 in gross income), file IRS Form 1041. Required if estate gross income is $600 or more, or if any beneficiary is a nonresident alien. The estate can choose a fiscal year. Use Form 7004 for an automatic 5.5-month extension of time to file.
New Mexico: File FID-1 (New Mexico Fiduciary Income Tax Return) for estate/trust income. Required when Derivative of the federal filing requirement, not a New Mexico dollar test: TRD states "Every fiduciary who must file a federal Fiduciary Income Tax Return (federal Form 1041) also files a FID-1" — i.e., the trigger is the federal Form 1041 obligation (which federal law, IRC § 6012(a)(3), imposes on an estate with $600+ of gross income), applied to an estate/trust that is a New Mexico resident or has New Mexico-source income. Exception: a fiduciary of a grantor trust that files federal Form 1041 under Treas. Reg. § 1.671-4(a) is not required to file FID-1. Statutory hook: N.M. Stat. Ann. § 7-2-12 (filing required of anyone "required by the laws of the United States to file a federal income tax return").. Due the same day as the required federal return. Estates and trusts are subject to New Mexico personal income tax at the § 7-2-7(B) rates (1.5%–5.9%, the same schedule as single individuals) — but, unlike individuals, they get no standard deduction (§ 7-2-2(N) allows it only to "taxpayers other than estates or trusts").N.M. Stat. Ann. §§ 7-2-3, 7-2-7(B), 7-2-12Verified Sep 10, 2026View source
For estates exceeding the federal exemption ($15,000,000), IRS Form 706 is required. Some states have lower thresholds. File Form 4768 for an automatic 6-month extension of time to file. The estate and GST tax is still due within 9 months of death; an extension of time to pay must be requested separately on the same form. Form 706 may also be filed to elect portability of the unused exemption to a surviving spouse.
IRS Form 706 due 9 months after date of death (6-month extension available) if required26 USC 6018; 26 USC 6075(a)
New Mexico: No state estate or inheritance tax. Only federal Form 706 applies if estate exceeds the federal exemption ($15,000,000).26 USC 2001(c), 2010; P.L. 119-21 §70106Verified Sep 15, 2026View source
Some states require tax clearance or closing letters before final distribution. Distributing without clearance can create personal liability for the executor or trustee.
New Mexico: New Mexico does not require a state tax clearance certificate before an estate distributes.N.M. Stat. Ann. §§ 7-2-3, 7-2-7(B), 7-2-12Verified Sep 10, 2026View source
An executor or personal representative is entitled to compensation for administering the estate. Some states set commissions by statute; others allow reasonable compensation. Decide whether to take a commission and document the basis before final distribution.
New Mexico: Executor compensation must be reasonable (no fixed statutory schedule). States that do set a schedule pay 2.2%–3.8% of an estate this size. Commissions are taxable income to the executor and are usually waived when the executor is also the main beneficiary.NMSA § 45-3-719 (reasonable compensation; no statutory percentage); § 45-3-721 (court review of reasonableness)Verified Sep 8, 2026View source
Keep copies of all documents, accountings, receipts, and tax returns. Most professionals recommend keeping records for 7-10 years.
General information about settling an estate, not legal advice. Requirements vary by state and circumstance. Consult a licensed attorney for legal questions. Data verified Sep 15, 2026
