A Will is a written instrument that takes effect after one passes away. The Will names a Personal Representative (or Executor) to carry out the instructions of the Will. The Will directs who gets what assets or things after the person passes.
For young couples, even though they think they do not have enough property to have a Will, a Will is important to name the persons who will raise their children if they both pass away. This is called a Testamentary Guardian.
New Mexico does not recognize hand written wills, so an attorney should be contacted regarding the making of a Will.
Having a Will does not necessarily avoid probate. Probate is the court process to convey marketable title to assets to the designated recipient. Real estate typically forces a probate to occur. One can avoid probate as to real estate by making and recording a Transfer on Death Deed while one is alive. There are other methods to avoid probate, depending on the type of assets involved; these are called nonprobate transfers. These methods are very fact specific but can easily be confused. An attorney should be consulted in these matters.