2000 Alaska Statutes
Title 13 DECEDENTS' ESTATES, GUARDIANSHIPS, TRANSFERS, AND TRUSTS
Chapter 13.60. UNIFORM CUSTODIAL TRUST ACT
Sec. 13.60.020. Custodial trustee for future payment or transfer.
(a)
A person having the right to designate the recipient of property
payable or transferable upon a future event may create a custodial
trust upon the occurrence of the future event by designating in writing
the recipient, followed in substance by "as custodial trustee for _______________ (name
of beneficiary) under the Alaska Uniform Custodial Trust Act."
(b) A person may be designated as substitute or successor custodial trustee to whom the property shall be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve.
(c) A designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment, or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation must be registered with or delivered to the fiduciary, payor, issuer, or obligor of the future right.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
