New Mexico § 46-14-5 Exclusions

New Mexico Statutes

§ 46-14-5 — Exclusions

New Mexico § 46-14-5

Ch. 46Fiduciaries and Trusts

Art. 14Uniform Directed Trust

This text of New Mexico § 46-14-5 (Exclusions) 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. § 46-14-5 (2026).

Text

A. As used in this section, "power of appointment" means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in, or another power of appointment over, trust property. B. The Uniform Directed Trust Act does not apply to a:

(1)power of appointment;

(2)power to appoint or remove a trustee or trust director;

(3)power of a settlor over a trust to the extent the settlor has a power to revoke the trust;

(4)power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:

(a)the beneficiary; or (b) another beneficiary represented by the beneficiary under Sections 46A-3- 301 through 46A-3-305 NMSA 1978 with respect to the exercise or nonexercise of the power; or (5) power

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A. As used in this section, "power of appointment" means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in, or another power of appointment over, trust property. B. The Uniform Directed Trust Act does not apply to a: (1) power of appointment; (2) power to appoint or remove a trustee or trust director; (3) power of a settlor over a trust to the extent the settlor has a power to revoke the trust; (4) power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of: (a) the beneficiary; or (b) another beneficiary represented by the beneficiary under Sections 46A-3- 301 through 46A-3-305 NMSA 1978 with respect to the exercise or nonexercise of the power; or (5) power over a trust if: (a) the terms of the trust provide that the power is held in a nonfiduciary capacity; and (b) the power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the United States Internal Revenue Code of 1986, as amended, and regulations issued thereunder, as amended. C. Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in, or power of appointment over, trust property that is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.