New Mexico Statutes > Chapter 46 > Article 2 – Decedent’s Estate or Terminating Income Interest
Current as of: 2024 | Check for updates
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| § 46-3A-201 | Determination and distribution of net income |
| § 46-3A-202 | Distribution to residuary and remainder beneficiaries |
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
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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.