Section 46A-4-417 – Combination and division of trusts.
After notice to the qualified beneficiaries, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair rights of any beneficiary or adversely affect achievement of the purposes of the trust. History: Laws 2003, ch. 122, § 4-417. […]
Section 46A-4-408 – Trust for care of animal.
A. A trust may be created to provide for the care of an animal alive during the settlor’s lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor’s lifetime, upon the death of the last […]
Section 46A-4-409 – Noncharitable trust without ascertainable beneficiary.
Except as otherwise provided in Section 4-408 [46A-4-408 NMSA 1978] of the Uniform Trust Code or by another statute, the following rules apply: A. a trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The […]
Section 46A-4-410 – Modification or termination of trust; proceedings for approval or disapproval.
A. In addition to the methods of termination prescribed by Sections 4-411 through 4-414 [46A-4-411 to 46A-4-414 NMSA 1978] of the Uniform Trust Code, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved or the purposes of the trust […]
Section 46A-4-411 – Modification or termination of noncharitable irrevocable trust by consent.
A. A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. If upon petition the court finds that the settlor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable […]
Section 46A-3-303 – Representation by fiduciaries and parents.
To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute: A. a conservator may represent and bind the estate that the conservator controls; B. a guardian may represent and bind the protected person if a conservator […]
Section 46A-3-304 – Representation by person having substantially identical interest.
Unless otherwise represented, a minor, incapacitated or unborn person, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between […]
Section 46A-3-305 – Appointment of representative.
A. If the court determines that an interest is not represented under this article, or that the otherwise available representation might be inadequate, the court may appoint a representative to receive notice, give consent and otherwise represent, bind and act on behalf of a minor, incapacitated or unborn person, or a person whose identity or […]
Section 46A-4-401 – Methods of creating trust.
A trust may be created by: A. transfer of property to another person as trustee during the settlor’s lifetime or by will or other disposition taking effect upon the settlor’s death; B. declaration by the owner of property that the owner holds identifiable property as trustee; or C. exercise of a power of appointment in […]
Section 46A-4-402 – Requirements for creation.
A. A trust is created only if: (1) the settlor has capacity to create a trust; (2) the settlor indicates an intention to create the trust; (3) the trust has a definite beneficiary or is: (a) a charitable trust; (b) a trust for the care of an animal, as provided in Section 4-408 [46A-4-408 NMSA […]