New Mexico § 46-12-115 Trust limitation on decanting

New Mexico Statutes

§ 46-12-115 — Trust limitation on decanting

New Mexico § 46-12-115

Ch. 46Fiduciaries and Trusts

Art. 12Uniform Trust Decanting

This text of New Mexico § 46-12-115 (Trust limitation on decanting) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 46-12-115 (2026).

Text

A. An authorized fiduciary shall not exercise the decanting power to the extent that the first-trust instrument expressly prohibits exercise of:

(1)the decanting power; or (2) a power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust. B. Exercise of the decanting power is subject to any restriction in the first-trust instrument that expressly applies to exercise of:

(1)the decanting power; or (2) a power granted by state law to a fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust. C. A general prohibition of the amendment or revocation of a first trust, a spendthrift clause or a clause restraining the voluntary or involuntary transfer of a beneficiary's interest does not pr

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A. An authorized fiduciary shall not exercise the decanting power to the extent that the first-trust instrument expressly prohibits exercise of: (1) the decanting power; or (2) a power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust. B. Exercise of the decanting power is subject to any restriction in the first-trust instrument that expressly applies to exercise of: (1) the decanting power; or (2) a power granted by state law to a fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust. C. A general prohibition of the amendment or revocation of a first trust, a spendthrift clause or a clause restraining the voluntary or involuntary transfer of a beneficiary's interest does not preclude exercise of the decanting power. D. Subject to Subsections A and B of this section, an authorized fiduciary may exercise the decanting power provided by the Uniform Trust Decanting Act even if the first-trust instrument permits the authorized fiduciary or another person to modify the first-trust instrument or to distribute part or all of the principal of the first trust to another trust. E. If a first-trust instrument contains an express prohibition described in Subsection A of this section or an express restriction described in Subsection B of this section, the provision shall be included in the second-trust instrument.