New Mexico Living Trust Forms
Download the New Mexico Living Trust form. A trust is a way an individual can set aside his or her chosen assets as the grantor into a separate entity to be managed for the benefit of his or her beneficiaries (those receiving distributions from the trust). An individual grantor can dictate the terms of the distribution, such as timing of the distributions and purposes of the distributions. An individual grantor also is able to choose a trustee and a successor trustee who will be in charge of managing the trust and making sure the trust provisions are carried out.
Revocable vs. Irrevocable: A revocable trust can be changed or modified by the grantor during his or her life, but it becomes irrevocable after the grantor’s death. An irrevocable trust, on the other hand, is made to be permanent.