NM Administrator of a Deceased's Estate

New Mexico Administrator of Estate Surety Bond amount is set by the court and is based
on the value of the estate

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Administrator and Executor bonds (also called Probate Bonds) are required by county courts in New Mexico of persons appointed to handle a deceased's estate. These bonds generally guarantee that all the estate debts will be satisfied and that the remaining assets will be properly distributed to the appropriate heirs. Because of the complexities involved, the surety usually requires that the applicant obtain the assistance of an attorney, although we do have markets that will consider bonds for qualified applicants without an attorney. Bond amounts are determined by the court. Bond premiums must be paid annually until the estate is properly settled.

Executor Bond - Required when the deceased left a Will and named someone in the Will to serve as executor. The surety will usually want to see a copy of the Will to determine to complexity of handling the estate in New Mexico.

Administrator Bond - Required when the deceased died intestate (without a Will). The court will usually appoint one of the primary heirs to serve in this capacity. Assets should be dispursed in accordance with the state's laws in New Mexico.

Trustee Bond - Usually required when a deceased leaves a Will and designates to leave some assets "in trust" to a beneficiary. In all cases, the surety must review a copy of the Trust.

Sample Probate Bond Pricing in New Mexico:
In addition to the applicants credit report, there are many other factors that are taken into consideration when pricing Administrator bonds in New Mexico. We provide the examples below to give you an idea of what qualified applicants should expect to pay. We find the best possible price for your surety bond given your particular qualifications.

Bond Amount Cost
$10,000 $100
$25,000 $135
$50,000 $260
$100,000 $460
$200,000 $860
$500,000 $1,610

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All bonds are guaranteed to be accepted by the obligee
The state of New Mexico has one of the most meaningful flags in all of the United States. It was first created by Spanish explorers who adapted the idea from a Native American tribe, the Zia's. The tribe believed that everything in life came in groups of fours, the four directions, four seasons, four times of the day, and the four stages of life.

Therefore, the flag has a yellow background and in the center is a red symbol with four parts reaching out from the middle. This Spanish influence is still a large part of New Mexico today.

There are two major Spanish-Native American groups living in the state; the Navajo and the Pueblo. There is a Navajo reservation that takes up 14 million acres. Even the constitution of New Mexico recognizes the Spanish heritage.

The state is nationally recognized as bilingual and 1 out of every three families speak Spanish or a combination of the language and English. New Mexico also has a large percentage of residents that work for the U.S. government.

Much of the state is used for scientific research, one of its largest industries. In 1945, near the town of Alamogordo, the United State's first nuclear weapon was tested. Because of the states low amount of water (it is the driest in the country), the large desert land makes it possible for the government to conduct such testing.

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