N.M. Stat. § 45-7-510
Use of custodial trust property.
A. A custodial trustee shall pay to the beneficiary or expend for the beneficiary's use
and benefit so much or all of the custodial trust property as the beneficiary while not
incapacitated may direct from time to time.
B. If the beneficiary is incapacitated, the custodial trustee shall expend so much or
all of the custodial trust property as the custodial trustee considers advisable for the use
and benefit of the beneficiary and individuals who were supported by the beneficiary
when the beneficiary became incapacitated, or who are legally entitled to support by the
beneficiary. Expenditures may be made in the manner, when, and to the extent that the
custodial trustee determines suitable and proper, without court order and without regard
to other support, income or property of the beneficiary.
C. A custodial trustee may establish checking, savings or other similar accounts of
reasonable amounts under which either the custodial trustee or the beneficiary may
withdraw funds from, or draw checks against, the accounts. Funds withdrawn from, or
checks written against, the account by the beneficiary are distributions of custodial trust
property by the custodial trustee to the beneficiary.