What is the difference between a will and a power of attorney?

A will and power of attorney are two legal documents that are important in estate planning in New Mexico. Wills and probate law in New Mexico is based on state and federal laws. A will is a legal document that outlines how someone’s estate will be distributed upon their death. In the will, a person can specify the recipients of their assets, specify executors of their estate, and name guardians for minor children. A will is typically finalized after the individual’s death, and is processed through probate court. On the other hand, a power of attorney is a document that gives someone else the authority to act on behalf of the individual granting the power of attorney. It can be used for a variety of matters, such as signing documents, making financial decisions, buying and selling property, and more. A power of attorney typically becomes effective immediately upon signing and can be revoked at any time. In summary, a will is a legal document that will take effect at the time of death and a power of attorney is a document that grants legal authority to someone else to act on the individual’s behalf while they are alive.

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What is the difference between a will and a power of attorney?

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