Appointment to deceased appointee or permissible appointee's descendant.

1. Law
2. New Mexico Statutes
3. Fiduciaries and Trusts
4. Uniform Powers of Appointment
5. EXERCISE OF POWER OF APPOINTMENT
6. Appointment to deceased appointee or permissible appointee's descendant.

A. Subject to Sections 45-2-603 and 45-2-707 NMSA 1978, an appointment to a deceased appointee is ineffective.

B. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee.

History: Laws 2016, ch. 69, § 306.

ANNOTATIONS

Effective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.

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