New Mexico § 46-12-116 Change in compensation

New Mexico Statutes

§ 46-12-116 — Change in compensation

New Mexico § 46-12-116

Ch. 46Fiduciaries and Trusts

Art. 12Uniform Trust Decanting

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Bluebook

N.M. Stat. Ann. § 46-12-116 (2026).

Text

A. If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless:

(1)all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. B. If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by the Uniform Trust Code [Chapter 46A NMSA 1978] unless:

(1)all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. C. A change in an authorize

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A. If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. B. If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by the Uniform Trust Code [Chapter 46A NMSA 1978] unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. C. A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of Subsections A and B of this section.