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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 60. Uniform Custodial Trust Act
- Section 40. Transfer to Custodial Trustee By Fiduciary, Obligor, or Other Person; Facility of Payment.
previous: Section 30
. Form and Effect of Receipt and Acceptance By Custodial Trustee; Jurisdiction.
next: Section 50
. Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.
AS 13.60.040. Transfer to Custodial Trustee By Fiduciary, Obligor, or Other Person; Facility of Payment.
- (a) Unless otherwise directed by an instrument designating a custodial trustee under AS 13.60.020
, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an
incapacitated individual not having a conservator, may make a transfer to an adult member of the beneficiary's family
or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the
property or the debt exceeds $20,000, the transfer is not effective unless authorized by the court.
- (b) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for
property transferred to the custodial trustee under this section.
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