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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 60. Uniform Custodial Trust Act
- Section 80. Use of Custodial Trust Property.
previous: Section 70
. General Powers of Custodial Trustee.
next: Section 90
. Determination of Incapacity; Effect.
AS 13.60.080. Use of Custodial Trust Property.
- (a) A custodial trustee shall pay to the beneficiary or expend for the beneficiary's use and benefit so much or all of the
custodial trust property as the beneficiary while not incapacitated may direct from time to time.
- (b) If the beneficiary is incapacitated, the custodial trustee shall expend so much or all of the custodial trust property
as the custodial trustee considers advisable for the use and benefit of the beneficiary and individuals who were
supported by the beneficiary when the beneficiary became incapacitated, or who are legally entitled to support by the
beneficiary. Expenditures may be made in the manner, when, and to the extent that the custodial trustee determines
suitable and proper, without court order and, except as otherwise provided in AS 13.12.212(d), without regard to other support, income, or
property of the beneficiary.
- (c) A custodial trustee may establish checking, savings, or other similar accounts of reasonable amounts under which
either the custodial trustee or the beneficiary may withdraw funds from, or draw checks against, the accounts. Funds
withdrawn from, or checks written against, the account by the beneficiary are distributions of custodial trust property
by the custodial trustee to the beneficiary.
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