An authorized fiduciary may exercise the decanting power regardless of whether under the first trust's discretionary distribution standard the fiduciary would have made, or could have been compelled to make, a discretionary distribution of principal at the time of the exercise.
§ 46-12-121 NMSA 1978
Need to distribute not required
Known as the Uniform Trust Decanting Act
The act spans §§ 46–46 (29 sections).
Laws 2016, ch. 72, § 1 -121.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.