§ 16602
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/ca/probate-code/16602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of this chapter, the following definitions shall apply:
(a)“Breach of trust” includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, this chapter, or law of this state other than this chapter pertaining to trusts.
(b)“Directed trust” means a trust for which the terms of the trust grant a power of direction.
(c)“Directed trustee” means a trustee that is subject to a trust director’s power of direction.
(d)“Power of direction” means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. Power of direction includes a power over the investment, management, or distribution of trust property or other matters of trust administration. The term excludes the powers described in subdivision
(a)of Section 16606.
(e)“Settlor” means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person’s contribution except to the extent another person has the power to revoke or withdraw that portion.
(f)“Terms of a trust” means either of the following:
(1)The manifestation of the settlor’s intent regarding a trust’s provisions as expressed in the trust instrument or established by other evidence that has been admitted in a judicial proceeding.
(2)The trust’s provisions as established, determined, or amended by a trustee or trust director in accordance with applicable law, the exercise of a power of appointment in accordance with applicable law, a court order, or other binding modification, including, but not limited to, under Section 15404.
(g)“Trust director” means a person that is granted a power of direction by the terms of a trust, to the extent the power is exercisable while the person is not serving as a trustee. The person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust.