Section 16606 - Exclusions(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.Added by Stats 2023 ch 721 (SB 801),s 3, eff. 1/1/2024.