2005 Idaho Code - 68-1302 — CUSTODIAL TRUST -- GENERAL

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 13
                      IDAHO UNIFORM CUSTODIAL TRUST ACT
    68-1302.  CUSTODIAL TRUST -- GENERAL. (1) A person may create a custodial
trust of property by a written transfer of the property to another person,
evidenced by registration or by other instrument of transfer, executed in any
lawful manner, naming as beneficiary, an individual who may be the transferor,
in which the transferee is designated, in substance, as custodial trustee
under the Idaho uniform custodial trust act.
    (2)  A person may create a custodial trust of property by a written
declaration, evidenced by registration of the property or by other instrument
of declaration executed in any lawful manner, describing the property and
naming as beneficiary an individual other than the declarant, in which the
declarant as titleholder is designated, in substance, as custodial trustee
under the Idaho uniform custodial trust act.  A registration or other
declaration of trust for the sole benefit of the declarant is not a custodial
trust under this chapter.
    (3)  Title to custodial trust property is in the custodial trustee and the
beneficial interest is in the beneficiary.
    (4)  Except as provided in subsection (5) of this section, a transferor
may not terminate a custodial trust.
    (5)  The beneficiary, if not incapacitated, or the conservator of an
incapacitated beneficiary may terminate a custodial trust by delivering to the
custodial trustee a writing signed by the beneficiary or conservator declaring
the termination.  If not previously terminated, the custodial trust terminates
on the death of the beneficiary.
    (6)  Any person may augment existing custodial trust property by the
addition of other property pursuant to this chapter.
    (7)  The transferor may designate, or authorize the designation of, a
successor custodial trustee in the trust instrument.
    (8)  This chapter does not displace or restrict other means of creating
trusts.  A trust whose terms do not conform to this chapter may be enforceable
according to its terms under other law.