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New Mexico Statutes > Chapter 46 > Article 2 – Decedent’s Estate or Terminating Income Interest

§ 46-3A-201 Determination and distribution of net income
§ 46-3A-202 Distribution to residuary and remainder beneficiaries
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Terms Used In New Mexico Statutes > Chapter 46 > Article 2 - Decedent's Estate or Terminating Income Interest

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Decedent: A deceased person.
  • Fiduciary: A trustee, executor, or administrator.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

New Mexico Statutes > Chapter 46 > Article 2 – Creation, Revocation and Amendment of Power of Appointment

§ 46-11-201 Creation of power of appointment
§ 46-11-202 Nontransferability
§ 46-11-203 Presumption of unlimited authority
§ 46-11-204 Exception to presumption of unlimited authority
§ 46-11-205 Rules of classification
§ 46-11-206 Power to revoke or amend
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Terms Used In New Mexico Statutes > Chapter 46 > Article 2 - Creation, Revocation and Amendment of Power of Appointment

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Donor: The person who makes a gift.