(a) Unless otherwise directed by an instrument designating a custodial trustee under AS 13.60.020, 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 $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 under this section.
Structure Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 60. Uniform Custodial Trust Act
Sec. 13.60.010. Custodial trust.
Sec. 13.60.020. Custodial trustee for future payment or transfer.
Sec. 13.60.030. Form and effect of receipt and acceptance by custodial trustee; jurisdiction.
Sec. 13.60.050. Multiple beneficiaries; separate custodial trusts; survivorship.
Sec. 13.60.060. General duties of custodial trustee.
Sec. 13.60.070. General powers of custodial trustee.
Sec. 13.60.080. Use of custodial trust property.
Sec. 13.60.090. Determination of incapacity; effect.
Sec. 13.60.100. Exemption of third person from liability.
Sec. 13.60.110. Liability to third person.
Sec. 13.60.130. Expenses, compensation, and bond of custodial trustee.
Sec. 13.60.150. Limitations of action against custodial trustee.
Sec. 13.60.160. Distribution and termination.
Sec. 13.60.170. Methods and forms for creating custodial trusts.
Sec. 13.60.180. Applicable law.