Idaho § 68-1305 TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT

Idaho Statutes

§ 68-1305 — TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT

Idaho·Title 68 TRUSTS AND FIDUCIARIES·Ch. 13 IDAHO UNIFORM CUSTODIAL TRUST ACT

(1)Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 68-1303, Idaho Code, 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 twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court.

(2)A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

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(1) Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 68-1303, Idaho Code, 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 twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court.
(2) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

Idaho § 68-1305 (TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR — FACILITY OF PAYMENT) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.