TITLE 68

TRUSTS AND FIDUCIARIES

CHAPTER 13

IDAHO UNIFORM CUSTODIAL TRUST ACT

68-1305.  Transfer to custodial trustee by fiduciary or obligor — Facility of payment. (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.

History:

[68-1305, added 1989, ch. 230, sec. 1, p. 550.]