Retirement and Other Accounts
Retirement accounts—such as an IRA or a 401(k)—can be set up by your client through an outside source that designates that ownership will transfer to New Mexico Community Foundation (NMCF) upon your client’s death or the death of a surviving spouse.
- It does not require a will.
- It bypasses probate.
Other payable-on-death accounts—such as bank and investment accounts—can also be established by your client to be transferred to NMCF.