A. In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.

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Terms Used In New Mexico Statutes 46-12-104

  • Fiduciary: A trustee, executor, or administrator.

B. The Uniform Trust Decanting Act does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of the Uniform Trust Decanting Act.

C. Except as otherwise provided in a first-trust instrument, the terms of the first trust are, for purposes of the Uniform Trust Decanting Act, Section 46A-8-801 N.M. Stat. Ann. and Subsection A of Section 46A-8-802 N.M. Stat. Ann., deemed to include the decanting power.