To the extent a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The court may limit the award to such relief as is appropriate under the circumstances.
History: Laws 2003, ch. 122, § 5-501; 2007, ch. 128, § 12.
The 2007 amendment, effective July 1, 2007, provided that if a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor to reach the beneficiary's interest.
Law reviews. — For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).
Structure 2021 New Mexico Statutes
Chapter 46A - Uniform Trust Code
Article 5 - Creditor's Claims; Spendthrift and Discretionary Trusts
Section 46A-5-501 - Rights of beneficiary's creditor or assignee.
Section 46A-5-502 - Spendthrift provision.
Section 46A-5-503 - Exceptions to spendthrift provision.
Section 46A-5-504 - Discretionary trusts; effect of standard.
Section 46A-5-505 - Creditor's claim against settlor.