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2020 Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 60. Uniform Custodial Trust Act
Sec. 13.60.040. Transfer to custodial trustee by fiduciary, obligor, or other person; facility of payment.
Universal Citation:
AK Stat § 13.60.040 (2020)
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(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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