§ 16606. — 16606. (Added by Stats. 2023, Ch. 721, Sec. 3.)

California § 16606.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 9.: DIVISION 9. TRUST LAW
• Part 4.: PART 4. TRUST ADMINISTRATION
• Ch. 6.: CHAPTER 6. California Uniform Directed Trust Act

Text

(a)
This chapter does not apply to any of the following:
(1)
A power of appointment.
(2)
The power to appoint or remove a trustee or trust director.
(3)
The power of a settlor over a trust, to the extent the settlor has a power to revoke the trust.
(4)
The power of a beneficiary over a trust, to the extent the exercise or nonexercise of the power affects the beneficial interest of the beneficiary.
(5)
The power over a trust if
both of the following apply:
(A)
The terms of the trust provide that the power is held in a nonfiduciary capacity.
(B)
The power is required to be held in a nonfiduciary capacity to achieve the settlor’s tax objectives under the United States Internal Revenue Code of 1986 and regulations issued thereunder.
(b)
Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in, or power of appointment over, trust property that is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.

Legislative History

Added by Stats. 2023, Ch. 721, Sec. 3. (SB 801) Effective January 1, 2024.