LawServer Nav Menu

New Mexico Statutes > Chapter 46 > Article 3 – Apportionment At Beginning and End of Income Interest

Current as of: 2023 | Check for updates | Other versions
§ 46-3A-301 When right to income begins and ends
§ 46-3A-302 Apportionment of receipts and disbursements when decedent dies or income interest begins
§ 46-3A-303 Apportionment when income interest ends
will 560x170

Need help with a review of a will?
Have it reviewed by a lawyer, get answers to your questions and move forward with confidence.
Connect with a lawyer now

Terms Used In New Mexico Statutes > Chapter 46 > Article 3 - Apportionment At Beginning and End of Income Interest

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • 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.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • 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.
  • Testator: A male person who leaves a will at death.
  • Trustee: A person or institution holding and administering property in trust.

New Mexico Statutes > Chapter 46 > Article 3 – Exercise of Power of Appointment

Current as of: 2023 | Check for updates | Other versions
§ 46-11-301 Requisites for exercise of power of appointment
§ 46-11-302 Intent to exercise; determining intent from residuary clause
§ 46-11-303 Intent to exercise; after-acquired power
§ 46-11-304 Substantial compliance with donor-imposed formal requirement
§ 46-11-305 Permissible appointment
§ 46-11-306 Appointment to deceased appointee or permissible appointee’s descendant
§ 46-11-307 Impermissible appointment
§ 46-11-308 Selective allocation doctrine
§ 46-11-309 Capture doctrine; disposition of ineffectively appointed property under general power
§ 46-11-310 Disposition of unappointed property under released or unexercised general power
§ 46-11-311 Disposition of unappointed property under released or unexercised nongeneral power
§ 46-11-312 Disposition of unappointed property if partial appointment to taker in default
§ 46-11-313 Appointment to taker in default
§ 46-11-314 Powerholder’s authority to revoke or amend exercise
will 560x170

Need help with a review of a will?
Have it reviewed by a lawyer, get answers to your questions and move forward with confidence.
Connect with a lawyer now

Terms Used In New Mexico Statutes > Chapter 46 > Article 3 - Exercise 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.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Donor: The person who makes a gift.
  • Fraud: Intentional deception resulting in injury to another.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).