§ 30-2-8.5-20 — Transfer authorized by will or trust; designation of custodian

Indiana § 30-2-8.5-20

• Jurisdiction: Indiana
• Art. 2: GENERAL PROVISIONS
• Ch. 8.5: Indiana Uniform Transfers to Minors Act

Text

(a) A personal representative or trustee may
make an irrevocable transfer under section 24 of this chapter to a
custodian for the benefit of a minor as authorized in the governing will
or trust.
(b) If the testator or settlor has nominated a custodian under section
18 of this chapter to receive the custodial property, the transfer shall be
made to that person.
(c) If the testator or settlor has not nominated a custodian under
section 18 of this chapter, or a person nominated as custodian dies
before the transfer or is unable, declines, or is ineligible to serve, the
personal representative or the trustee shall designate the custodian from
among those eligible to serve as custodian for property of that kind
under section 24(a) of this chapter. The personal representative or
trustee may be designated as custodian under this subsection if the
personal representative or trustee is eligible to serve as custodian for
property of that kind under section 24(a) of this chapter.

Legislative History

As added by P.L.267-1989, SEC.2. Amended by P.L.95-2007, SEC.15.