New Mexico Statutes Chapter 46A. Uniform Trust Code § 46A-1-103. Definitions

A. “action”, with respect to an act of a trustee, includes a failure to act;

B. “ascertainable standard” means a standard relating to an individual's health, education, support or maintenance within the meaning of Subparagraph (A) of Paragraph (1) of Subsection (b) of Section 2041 and Paragraph (1) of Subsection (c) of Section 2514 of the Internal Revenue Code of 1986, as amended;

C. “beneficiary” means a person that:

D. “charitable trust” means a trust or portion of a trust created for a charitable purpose described in Subsection A of Section 46A-4-405 NMSA 1978;

E. “conservator” means a person appointed by the court to administer the estate of a minor or adult individual;

F. “environmental law” means a federal, state or local law, rule, regulation or ordinance relating to protection of the environment;

G. “guardian” means a person appointed by the court or a parent to make decisions regarding the support, care, education, health and welfare of a minor or adult person. “Guardian” does not include a guardian ad litem;

H. “interests of the beneficiaries” means the beneficial interests provided in the terms of the trust;

I. “jurisdiction”, with respect to a geographic area, includes a state or country;

J. “person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation or any other legal or commercial entity;

K. “power of withdrawal” means a presently exercisable general power of appointment other than a power exercisable:

L. “property” means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein;

M. “qualified beneficiary” means a beneficiary who, on the date the beneficiary's qualification is determined:

N. “revocable”, as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest;

O. “settlor” means a person, including a testator, who creates or contributes property to a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution, except to the extent another person has the power to revoke or withdraw that portion;

P. “spendthrift provision” means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest;

Q. “state” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. “State” includes an Indian tribe, pueblo, nation or band recognized by federal law or formally acknowledged by a state;

R. “terms of a trust” means:

S. “trust instrument” means an instrument executed by the settlor that contains terms of the trust, including any amendments thereto; and

T. “trustee” includes an original trustee, an additional trustee, a successor trustee and a co-trustee.