Planning for your financial future shouldn’t be something that is done late in life. Estate planning is an effective tool to manage your finances throughout your life while providing guidance on how you want your assets and property divided after you are gone. An Albuquerque estate planning lawyer can help you plan for the future by drafting and executing wills, trusts, and other estate planning tools.
A Trusted Law Firm Focused on Your Financial Future
Life can change unexpectedly, and your estate plan should keep up. At Ashton Law, PC, we understand how major life events, like starting a business, growing a family, or a new marriage, can alter your financial goals and priorities. Whether you’re expecting a significant life transition or simply want to plan for long-term security, we can provide advice and perspective to help you navigate these circumstances with confidence.
If you have questions about how retirement, remarriage, or a change in health could affect your estate, we’re here to help. Whether you live in Nob Hill, downtown Albuquerque, or the International District, we take a holistic approach to estate planning that includes a focus on aligning your estate planning documents with your vision for your financial future.
Don’t let life’s uncertainties dictate your future. Protect what matters most with Ashton Law, PC.
Understanding Estate Planning in Albuquerque
Estate planning is often overlooked, yet it plays a critical role in protecting families, minimizing potential legal complications, and preserving wealth. In a state like New Mexico, where home values are on the rise, it is especially important to have a well-thought-out estate plan.
In Albuquerque, the average home value rose to approximately $342,693 in 2025, reflecting steady growth and emphasizing the need to protect real property. However, despite the increasing value of these homes, only 32% of American adults currently have a will, according to a 2025 survey. Without proper planning, valuable assets and real property may not be passed on as intended.
Benefits of Estate Planning
Estate planning guides your estate during your lifetime and after your death. While some people think this type of planning is only for seniors or the wealthy, careful financial planning can begin at any stage of your life. Creating a will can ensure that your estate is divided according to your wishes.
During your lifetime, a power of attorney allows someone of your choosing to make medical or financial decisions if you cannot. A living will outlines your health care preferences in serious situations. Revocable living trusts can help individuals manage property and avoid probate.
These tools should be set up early in life and revisited as your life goals and financial situation evolve. Estate planning can afford peace of mind by making your goals and wishes for your estate clear to all if you were to become incapacitated.
Why Estate Planning Should Be Revisited After Significant Life Changes
A significant change in your personal life or finances can affect your estate plan, no matter what it is. This includes buying a home, starting or ending a marriage, welcoming a new child, or dealing with an illness. Any of these life transitions may necessitate updates to trusts, wills, or beneficiary designations.
Without a clear estate plan, your property may be classified and distributed according to New Mexico guidelines. It’s crucial to keep your estate planning documents current and legally valid to ensure your wishes are prioritized.
An experienced estate planning lawyer can help you protect your finances and anticipate the potential impact of life’s changes.
Benefits of Working with an Estate Planning Attorney
If you have concerns about how your estate will be handled, an estate planning attorney can explain the process. Our team can assist with drafting, reviewing, and updating different estate planning documents.
We can also address overlapping legal issues, identify possible tax implications, and ensure property titles and beneficiary designations are adjusted correctly. By working with financial consultants when needed, we can safeguard your future and streamline asset transfers.
Contact Ashton Law, PC, to make informed decisions today.
FAQs
Q: How Does Estate Planning Fit into Major Life Changes?
A: Estate planning often intersects with many major life changes, including health changes, retirement, marriage, and business formation. These events may require updates to wills, trusts, or beneficiary designations to reflect your current relationships, intentions, and responsibilities. An estate lawyer can help you stay proactive to prevent any legal conflicts and ensure your legacy is preserved accordingly.
Q: Can My Estate Planning Attorney Advise Me on Financial Strategy?
A: Your estate planning attorney may not be able to advise you on financial strategy, but we can help you understand how your property will be distributed, how the estate may be taxed, and what options are available to avoid the probate process. Estate planning attorneys are not necessarily financial advisors, but they play an important role in ensuring your documents are aligned with your financial strategy.
Q: Should I Update My Estate Plan Regularly?
A: Yes, you should update your estate plan regularly. It is recommended that you review your estate plan every few years or whenever you experience a major life change. Regularly updating your estate documents ensures they remain in compliance with current laws and continue reflecting your priorities. Should you become unexpectedly incapacitated, you can rest assured that your wishes will be honored.
Q: What Happens to My Estate if I Don’t Have an Estate Plan?
A: If you don’t have an estate plan in place, the assets in your estate will be distributed according to state law. This can lead to disputes among beneficiaries and unintended outcomes. Additionally, if you have no clear directives, medical care and financial decisions may be made by someone you wouldn’t have chosen. An estate plan allows you to be in control of your future and finances, and gives your loved one’s clarity.
Plan for Your Financial Future Today with Ashton Law, PC
Life can be full of uncertainties, but your future doesn’t have to be. Whether you want to ensure your assets are distributed according to your wishes, prepare for a significant life change, or protect your family, thoughtful planning can make all the difference.
At Ashton Law, PC, we’re here to help you make informed decisions and create a plan that supports your financial and personal goals. Contact our Albuquerque office today to discuss how we can support your estate planning needs.
