New Mexico § 46-11-502 - Creditor claim; general power not created by powerholder

§ 46-11-502. Creditor claim; general power not created by powerholder

A. Except as otherwise provided in Subsection B of this section, appointive property

subject to a general power of appointment created by a person other than the powerholder

is subject to a claim of a creditor of: (1) the powerholder, to the extent that the powerholder's property is insufficient,

if the power is presently exercisable; and (2) the powerholder's estate, to the extent that the estate is insufficient, subject

to the right of a decedent to direct the source from which liabilities are paid. B. Subject to Subsection C of Section 504 of the Uniform Powers of Appointment Act,

a power of appointment created by a person other than the powerholder that is subject

to an ascertainable standard relating to an individual's health, education, support

or maintenance within the meaning of 26 U.S.C. Section 2041(b)(1)(A) , as amended, or 26 U.S.C. Section 2514(c)(1) , as amended, is treated for purposes of this article as a nongeneral power.