Vermont § 1402 - Definitions As used in this chapter:

§ 1402. Definitions As used in this chapter:

• (1) “Appointive property” means the property or property interest subject to a power of
  appointment. (2) “Ascertainable standard” has the same meaning as in subdivision 103(2) of this title. (3) “Authorized fiduciary” means: (A) a trustee or other fiduciary, other than a settlor, that has discretion to distribute
  or direct a trustee to distribute part or all of the principal of the first trust
  to one or more current beneficiaries; (B) a special fiduciary appointed under section 1409 of this title; or (C) a special-needs fiduciary under section 1413 of this title. (4) “Beneficiary” has the same meaning as in subdivision 103(3) of this title. (5) “Charitable interest” means an interest in a trust that: (A) is held by an identified charitable organization and makes the organization a qualified
  beneficiary; (B) benefits only charitable organizations and, if the interest were held by an identified
  charitable organization, would make the organization a qualified beneficiary; or (C) is held solely for charitable purposes and, if the interest were held by an identified
  charitable organization, would make the organization a qualified beneficiary. (6) “Charitable organization” means: (A) a person, other than an individual, organized and operated exclusively for charitable
  purposes; or (B) a government or governmental subdivision, agency, or instrumentality, to the extent
  it holds funds exclusively for a charitable purpose. (7) “Charitable purpose” means the relief of poverty, the advancement of education or
  religion, the promotion of health, a municipal or other governmental purpose, or another
  purpose the achievement of which is beneficial to the community. (8) “Court” means the court in this State having jurisdiction in matters relating to trusts. (9) “Current beneficiary” means a beneficiary that on the date the beneficiary’s qualification
  is determined is a distributee or permissible distributee of trust income or principal.
  The term includes the holder of a presently exercisable general power of appointment
  but does not include a person that is a beneficiary only because the person holds
  any other power of appointment. (10) “Decanting power” or “the decanting power” means the power of an authorized fiduciary
  under this chapter to distribute property of a first trust to one or more second trusts
  or to modify the terms of the first trust. (11) “Expanded distributive discretion” means a discretionary power of distribution that
  is not limited to an ascertainable standard or a reasonably definite standard. (12) “First trust” means a trust over which an authorized fiduciary may exercise the decanting
  power. (13) “First-trust instrument” means the trust instrument for a first trust. (14) “General power of appointment” means a power of appointment exercisable in favor of
  a powerholder, the powerholder’s estate, a creditor of the powerholder, or a creditor
  of the powerholder’s estate. (15) “Jurisdiction,” with respect to a geographic area, includes a state or country. (16) “Person” has the same meaning as in section 103 of this title. (17) “Power of appointment” means a power that enables a powerholder acting in a nonfiduciary
  capacity to designate a recipient of an ownership interest in or another power of
  appointment over the appointive property. The term does not include a power of attorney. (18) “Powerholder” means a person in which a donor creates a power of appointment. (19) “Presently exercisable power of appointment” means a power of appointment exercisable
  by the powerholder at the relevant time. The term: (A) includes a power of appointment exercisable only after the occurrence of a specified
  event, the satisfaction of an ascertainable standard, or the passage of a specified
  time only after: