I, ____________ (name of transferor or name and representative capacity if a fiduciary), transfer to ____________ (name of trustee other than transferor), as custodial trustee for ____________ (name of beneficiary) as beneficiary and as distributee on termination of the trust in absence of direction by the beneficiary under the "Colorado Uniform Custodial Trust Act ", the following: (insert a description of the custodial trust property legally sufficient to identify and transfer each item of property).
Dated: ________________ ______________________
(Signature); or
I, ____________ (name of owner of property), declare that henceforth I hold as custodial trustee for ____________ (name of beneficiary other than transferor) as beneficiary and as distributee on termination of the trust in absence of direction by the beneficiary under the "Colorado Uniform Custodial Trust Act", the following: (insert a description of the custodial trust property legally sufficient to identify and transfer each item of property).
Dated: ________________ ______________________
(Signature).
TRANSFER UNDER THE "COLORADO UNIFORM CUSTODIAL TRUST ACT"
DECLARATION OF TRUST UNDER THE "COLORADO UNIFORM CUSTODIAL TRUST ACT"
Source: L. 99: Entire article added, p. 1222, § 1, effective August 4.
This section largely follows Section 9 of UTMA. It provides instructional detail for forms and methods of transferring assets that satisfy the requirements of the statute. Although many of the customary methods of transferring assets are identified, these methods are not intended to be exclusive since any type of property that can be transferred by any legal means is intended to be within the scope of the statute, provided the requirements of section 15-1.5-102 are met. The method of transfer or conveyance appropriate to the asset should be used, e.g., if land is involved, a deed or conveyance that satisfies the local requirements would be appropriate. In the effort to make the statute as self-contained and as fully explanatory as possible, these provisions for implementation are included in the statute rather than being appended or inserted in the Comments.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 1.5 - Colorado Uniform Custodial Trust Act
§ 15-1.5-102. Custodial Trust - General
§ 15-1.5-103. Custodial Trustee for Future Payment or Transfer
§ 15-1.5-104. Form and Effect of Receipt and Acceptance by Custodial Trustee - Jurisdiction
§ 15-1.5-105. Transfer to Custodial Trustee by Fiduciary or Obligor - Facility of Payment
§ 15-1.5-106. Multiple Beneficiaries - Separate Custodial Trusts - Survivorship
§ 15-1.5-107. General Duties of Custodial Trustee
§ 15-1.5-108. General Powers of Custodial Trustee
§ 15-1.5-109. Use of Custodial Trust Property
§ 15-1.5-110. Determination of Incapacity - Effect
§ 15-1.5-111. Exemption of Third Persons From Liability
§ 15-1.5-112. Liability to Third Persons
§ 15-1.5-114. Expenses, Compensation, and Bond of Custodial Trustee
§ 15-1.5-116. Limitations of Action Against Custodial Trustee
§ 15-1.5-117. Distribution on Termination
§ 15-1.5-118. Methods and Forms for Creating Custodial Trusts