What is the difference between intestate and testate succession?

The difference between intestate and testate succession is an important understanding when it comes to wills and probate law in New Mexico. Intestate succession is when an individual dies without a valid will or estate plan in place. In this case, the deceased’s estate will be administered in accordance with state law. Testate succession, on the other hand, is when an individual dies with a valid will in place. Under testate succession, the deceased’s assets will be distributed according to their last will and testament. Generally, when it comes to intestate succession, New Mexico state law states that the deceased’s spouse will receive the entire estate, unless the deceased had any children or grandchildren, in which case the spouse will only receive a percentage of the estate. The remainder of the estate will then be divided among the deceased’s children and grandchildren. If there are no surviving heirs, the estate will pass to the deceased’s parents or siblings. Under testate succession, the deceased will have already expressed how they would like their assets to be distributed. The executor of the estate is responsible for ensuring that the deceased’s wishes are followed and that the assets are distributed accordingly. In conclusion, intestate succession is when an individual dies without a valid will or estate plan in place, while testate succession is when the deceased has expressed their wishes regarding the distribution of their assets through a will prior to death.

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What is the difference between intestate and testate succession?

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