The following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise:
"Trust" means the following:
An express trust, private or charitable, with additions thereto, wherever and however created; or
A trust created or determined by a judgment or decree under which the trust is to be administered in the manner of an express trust.
"Trust" excludes the following:
Constructive trusts, other than those described in paragraph (a)(ii) of this section, and resulting trusts;
Guardianships and conservatorships;
Executors and administrators of decedent's estates;
Totten trust accounts;
Custodial arrangements pursuant to the Uniform Gifts to Minors Act or the Uniform Transfers to Minors Act of any state;
Business trusts that are taxed as partnerships or corporations;
Investment trusts subject to regulation under the laws of this state or any other jurisdiction;
Common trust funds;
Voting trusts;
Security arrangements;
Transfers in trust for purpose of suit or enforcement of a claim of right;
Liquidation trusts; or
Any arrangement under which a person is nominee or escrowee for another.
"Trustee" means an original, additional, or successor trustee, whether or not appointed or confirmed by a court.
"Trust instrument" means a written instrument which creates, defines or determines a trust, including, but not limited to, a last will and testament of a decedent.
Structure Mississippi Code