N.M. Stat. § 45-3-719
Compensation for personal representatives.
A personal representative is entitled to reasonable compensation for his services. If
a will provides for compensation of the personal representative and there is no contract
with the decedent regarding compensation, he may renounce the provision before
qualifying and be entitled to reasonable compensation. A personal representative also
may renounce his right to all or any part of the compensation. A written renunciation of
the fee may be filed with the court.