The holder of a power of withdrawal, during the period that the power may be exercised, shall be treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power. The lapse, release, or waiver of a power of withdrawal shall not cause the holder to be treated as a settlor of the trust.
(Code 1981, §53-12-83, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)