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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 60. Uniform Custodial Trust Act
- Section 160. Distribution and Termination.
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. Limitations of Action Against Custodial Trustee.
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. Methods and Forms For Creating Custodial Trusts.
AS 13.60.160. Distribution and Termination.
- (a) Except as otherwise provided by AS 13.12.212
(e), upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust
- (1) to the beneficiary, if not incapacitated or deceased;
- (2) to the conservator or other recipient designated by the court for an incapacitated beneficiary; or
- (3) upon the beneficiary's death, in the following order:
- (A) as last directed in a writing signed by the deceased beneficiary while not incapacitated and received by the custodial
trustee during the life of the deceased beneficiary;
- (B) to the survivor of multiple beneficiaries if survivorship is provided for under AS 13.60.050
- (C) as designated in the instrument creating the custodial trust; or
- (D) to the estate of the deceased beneficiary.
- (b) If, when the custodial trust would otherwise terminate, the distributee is incapacitated, the custodial trust
continues for the use and benefit of the distributee as beneficiary until the incapacity is removed or the custodial
trust is otherwise terminated.
- (c) Death of a beneficiary does not terminate the power of the custodial trustee to discharge obligations of the custodial
trustee or beneficiary incurred before the termination of the custodial trust.
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