§ 34-13-138 — Changing the time for transfer of custodial property

Wyoming § 34-13-138

• Jurisdiction: Wyoming
• Title 34: Property, Conveyances and Security Transactions
• Ch. 13: TRANSFERS TO MINORS

Text

(a) Subject to the requirements and limitations of this
section, the time for transfer to the minor of custodial
property transferred under W.S. 34-13-116 through 34-13-119 may
be changed to a specified time other than the minor's attainment
of twenty-one (21) years of age, which time shall be specified
in the transfer pursuant to W.S. 34-13-122.
(b) To specify a changed time for transfer to the minor of
the custodial property, the words "as custodian for .... (name
of minor) until age .... (age for delivery of property to minor)
under the Wyoming Uniform Transfers to Minors Act" shall be
substituted in substance for the words "as custodian for ....
(name of minor) under the Wyoming Uniform Transfers to Minors
Act" in making the transfer pursuant to W.S. 34-13-122.
(c) The time for transfer to the minor of custodial
property transferred under or pursuant to W.S. 34-13-116 or
34-13-118 may be changed under this section only if the
governing will, trust or nomination provides in substance that
the custodianship is to continue until the minor's attainment of
a specified age, which time shall not be later than the minor's
attainment of thirty (30) years of age, and in that case the
governing will, trust or nomination shall determine the time to
be specified in the transfer pursuant to W.S. 34-13-122.
(d) The time for transfer to the minor of custodial
property transferred by irrevocable gift or the irrevocable
exercise of a power of appointment under W.S. 34-13-117 may be
changed under this section only if the transfer pursuant to W.S.
34-13-122 provides in substance that the custodianship is to
continue until the minor's attainment of a specified age, which
time shall not be later than the minor's attainment of thirty
(30) years of age.
(e) The time for transfer to the minor of custodial
property transferred by a trustee under W.S. 34-13-119 may be
changed under this section only if the transfer pursuant to W.S.
34-13-122 provides that the custodianship is to continue until a
specified time not later than the earlier of:
(i) The minor's attainment of thirty (30) years of
age;
(ii) The time of termination of all present
beneficial interests of the minor in the trust from which the
custodial property was transferred.
(f) If the transfer pursuant to W.S. 34-13-122 does not
specify any age, the time for the transfer of the custodial
property to the minor under W.S. 34-13-133 is the time when the
minor attains twenty-one (21) years of age.
(g) If the transfer pursuant to W.S. 34-13-122 provides in
substance that the duration of the custodianship is for a time
longer than the maximum time permitted by this section for the
duration of a custodianship created by that type of transfer,
the custodianship shall be deemed to continue only until the
minor's attainment of the maximum age permitted by this section
for the duration of a custodianship created by that type of
transfer.