Sec. 4. As used in this chapter, "authorized fiduciary" means:
(1) a trustee, trust director, 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 (1) or more current beneficiaries;
(2) a special fiduciary appointed under section 39 of this chapter; or
(3) a special-needs fiduciary under section 43 of this chapter.