For purposes of this chapter, the following definitions shall apply: (a) âBreach of trustâ 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) âDirected trustâ means a trust for which the terms of the trust grant a power of direction. (c) âDirected trusteeâ means a trustee that is subject to a trust directorâs power of direction. (d) âPower of directionâ 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) âSettlorâ 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 personâs contribution except to the extent another person has the power to revoke or withdraw that portion. (f) âTerms of a trustâ means either of the following: (1) The manifestation of the settlorâs intent regarding a trustâs provisions as expressed in the trust instrument or established by other evidence that has been admitted in a judicial proceeding. (2) The trustâs 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) âTrust directorâ 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.
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