Rhode Island § 18-13-5 § 18-13-5. Transfer to custodial trustee by fiduciary or obligor — Facility of payment.

Rhode Island Statutes

§ 18-13-5 — § 18-13-5. Transfer to custodial trustee by fiduciary or obligor — Facility of payment.

Rhode Island § 18-13-5

Title 18Fiduciaries

Ch. 18-13Rhode Island Uniform Custodial Trust Act

This text of Rhode Island § 18-13-5 (§ 18-13-5. Transfer to custodial trustee by fiduciary or obligor — Facility of payment.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 18-13-5 (2026).

Text

§ 18-13-5. Transfer to custodial trustee by fiduciary or obligor — Facility of payment.
(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant
            to § 18-13-3, 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 

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§ 18-13-5. Transfer to custodial trustee by fiduciary or obligor — Facility of payment.

(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 18-13-3, 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.

(b) 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.