Nebraska § 30-3505 Form and effect of receipt and acceptance by custodial trustee; jurisdiction

Nebraska Statutes

§ 30-3505 — Form and effect of receipt and acceptance by custodial trustee; jurisdiction

Nebraska § 30-3505

Ch. 30Decedents' Estates; Protection of Persons and Property

This text of Nebraska § 30-3505 (Form and effect of receipt and acceptance by custodial trustee; jurisdiction) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 30-3505 (2026).

Text

(a)Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under the Nebraska Uniform Custodial Trust Act upon the custodial trustee's written acceptance of the custodial trust property.

(b)The custodial trustee's acceptance may be evidenced by a writing stating in substance: CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE I, ............ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ............ (name of beneficiary) under the Nebraska Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Nebraska Uniform Custodial Trust Act. My obligations as cu

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(a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under the Nebraska Uniform Custodial Trust Act upon the custodial trustee's written acceptance of the custodial trust property.
(b) The custodial trustee's acceptance may be evidenced by a writing stating in substance:
CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE
I, ............ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ............ (name of beneficiary) under the Nebraska Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Nebraska Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ............................................................... .
Dated: ...............................................
(Signature of Custodial Trustee) .....................
(c) Upon accepting custodial trust property, a person designated as custodial trustee under the act is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.