In the state of New Mexico is the bank account considered tangible or intangible in respect to a will ?

Asked over 1 year ago - Elyria, OH

I am the executor of my father in laws will in the state of New Mexico , ( I live in Ohio ) the will states that personal effects , household effects , automobiles and other tangible personal property be left to a designated person . Is the bank account considered tangible or intangible ?

Attorney answers (3)

  1. William Joseph Reynolds

    Contributor Level 13

    3

    Lawyers agree

    Answered . Take a look at this document http://jec.unm.edu/manuals-resources/manuals/20... - third paragraph down. As is the case here in Ohio (and everywhere else that I'm aware of) bank accounts are intangible property.

    The information provided here is general in nature and is not to be considered legal advice. No attorney-client... more
  2. Kelly Scott Davis

    Pro

    Contributor Level 18

    2

    Lawyers agree

    Answered . The general rule is that if you can hold it in your hand, it's tangible. You should ask your attorney in New Mexico.

  3. James P. Frederick

    Contributor Level 20

    2

    Lawyers agree

    Answered . This is a great question. I would look to the terms of the Will for guidance. A probate attorney would be of great benefit to you in doing this. It *sounds* like the provision in question deals mostly with personal items that do not have title, (with the exception of the automobiles). Bank accounts would normally fall outside this description. A careful reading of the Will is called for, however.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******... more

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