(a)(1) Notwithstanding any other provision of this chapter, if the settlor reserved a power of revocation over a trust, the settlor is alive, and the power of revocation has not been released:

(A) The duties of the trustee are owed exclusively to the settlor; and

(B) With respect to any trust property held for personal use or enjoyment by a beneficiary or any other trust property designated as being subject to this paragraph pursuant to paragraph (3) of subsection (c) of this Code section:

(i) The settlor shall have the power to direct the trustee in the management of such property and the provisions of Article 18 of this chapter shall apply so that the trustee is a directed trustee who, without limitation, is relieved from the duties from which trustees are relieved under subsection (f) of Code Section 53-12-504; and

(ii) The trustee shall not have any duty to account at least annually to the beneficiaries under paragraph (1) of subsection (b) of Code Section 53-12-243, to keep the beneficiaries reasonably informed of the trust and its administration under the common law, or to provide information to the trust director under paragraph (1) of subsection (c) of Code Section 53-12-504.

(2) Unless the trust instrument provides otherwise, if the trustee is required or authorized in the trustee’s discretion to make distributions of trust property to other beneficiaries while the settlor is alive, the settlor has not released the power to revoke the trust, and the settlor lacks capacity to revoke the trust, then the trustee owes duties to the beneficiaries to whom income or principal is required or authorized in the trustee’s discretion to be distributed currently and the office of trust director created pursuant to this subsection is governed by Code Section 53-12-506.

(b) If subsection (a) of this Code section applies to a trust:

(1) In addition to any persons who may seek to enforce the trust under any other Code section or the common law, the following persons may seek to enforce the trust:

(A) The settlor’s guardian or conservator;

(B) The settlor’s agent under a power of attorney granting general authority with respect to estates, trusts, and other beneficial interests under Code Section 10-6B-50, general authority with respect to claims and litigation under Code Section 10-6B-51, or substantially similar authority that would make it appropriate for the agent to enforce the trustee’s duties to the settlor;

(C) The settlor’s parent, spouse, or descendant; or

(D) Any qualified beneficiary of the trust;

(2) Upon a motion by the settlor, the court shall dismiss any action seeking to enforce the trust unless the court finds that the settlor lacks capacity to revoke the trust; and

(3) Upon a motion by a person described in subparagraph (A) or (B) of paragraph (1) of this subsection, the court shall dismiss any action seeking to enforce the trust filed by a person described in subparagraph (C) or (D) of paragraph (1) of this subsection, unless the court finds that the settlor’s interests in the trust are not adequately represented by the person moving to dismiss the action.

(c) For purposes of this Code section:

(1) “Property held for personal use or enjoyment” means property held for purposes other than, or in addition to, monetary value, and shall include, but not be limited to:

(A) All personal effects, including, but not limited to, clothing, jewelry, firearms, and equipment;

(B) All household goods and equipment, including, but not limited to, furniture and furnishings, works of art, and collectibles;

(C) All automobiles, aircraft, watercraft, and other vehicles; and

(D) All dwellings and other real property that are used or enjoyed by a beneficiary, regardless of whether rented, leased, or otherwise held out for use or enjoyment by other persons.

(2) If trust property includes an indirect interest in property, including, but not limited to, an interest in an entity, the entire indirect interest is held for personal use or enjoyment if any portion of the property in which the trustee holds an indirect interest is held for personal use or enjoyment.

(3)(A) The trust instrument, or a majority of the persons to whom the trustee owes duties under subsection (a) of this Code section in a writing delivered to the trustee, may designate trust property as:

(i) Being held or not being held for personal use or enjoyment; or

(ii) Property subject to or not subject to subparagraph (a)(1)(B) of this Code section.

(B) A designation of trust property made pursuant to subparagraph (A) of this paragraph shall control; provided, however, that a failure to make a designation of trust property pursuant to subparagraph (A) of this paragraph shall not constitute evidence that such property is not held for personal use or enjoyment.

(4) “Management” of property means the exercise of all powers over such property that an unmarried competent owner has over individually owned property.