§ 7780.14. Exclusions - UDTA 5.
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§ 7780.14. Exclusions - UDTA 5.
This subchapter does not apply to:
(1)A power of appointment.
(2)A power held by the settlor or a beneficiary of a trust to appoint or remove a trustee or a trust director unless the terms of the trust provide that the power is exercisable by the settlor or beneficiary acting as a trust director.
(3)A settlor's power over a trust to the extent the settlor may revoke the trust.
(4)A power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:
(i)the beneficiary; or
(ii)another beneficiary who is represented by the beneficiary under Subchapter C (relating to representation) with respect to the exercise or nonexercise of the power.
(5)A power over a trust that must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under 26 U.S.C. (relating to Internal Revenue Code), as amended, and regulations issued thereunder, as amended.
20c7780.15s