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New Mexico has no state estate or inheritance tax, so only the federal estate tax can apply. Learn the 2026 exclusion, portability, and community property.
New Mexico exempt property is the $15,000 personal property allowance a surviving spouse or children can claim from the estate ahead of creditors.
New Mexico family allowance is a $30,000 protected cash amount a surviving spouse can claim during probate ahead of most estate creditors.
New Mexico probate accounting explains what a personal representative must report, from the three-month inventory to the final closing statement.
New Mexico probate bond requirements: personal representatives usually serve without bond unless the will, a party, or the court requires it.
New Mexico debt payment priority under NMSA 45-3-805 sets the order executors pay claims. Learn the six classes, insolvent estate rules, and personal liability.
How New Mexico community property gives both spouses a full step-up in basis under IRC Section 1014(b)(6), cutting capital gains tax on inherited property.
New Mexico surviving spouse rights: community property, a $30,000 family allowance, a $15,000 personal property allowance, and a separate-property share.
New York has its own estate tax with a 105% cliff atop the federal estate tax: the 2026 federal exclusion, portability, and how the two taxes work separately.
New York exempt property set-aside under EPTL 5-3.1 explained. What a surviving spouse or child under 21 can claim, the item caps, and how it beats creditors.
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