§554B-5 Transfer to custodial trustee by fiduciary or obligor, facility of payment. (a) Unless controlled by an instrument designating a custodial trustee under section 554B-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 benefit of the incapacitated individual. If the property or obligation exceeds $20,000 in value, the transfer must be authorized by the court.
(b) The written acknowledgment of delivery signed by a custodial trustee constitutes a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section. [L 1989, c 76, pt of §1; am L 2004, c 161, §36]
Structure Hawaii Revised Statutes
Title 30. Guardians and Trustees
554B. Uniform Custodial Trust Act
554B-2 Custodial trust; general.
554B-3 Custodial trustee for future payment or transfer.
554B-4 Form and effect of receipt and acceptance by custodial trustee, jurisdiction.
554B-5 Transfer to custodial trustee by fiduciary or obligor, facility of payment.
554B-6 Multiple beneficiaries, separate custodial trusts, survivorship.
554B-7 General management duties of custodial trustee.
554B-8 General powers of custodial trustee.
554B-9 Use of custodial trust property.
554B-10 Determination of incapacity, proceeding and effect.
554B-11 Exemption of third person from liability.
554B-12 Liability to third persons.
554B-14 Expenses, compensation, and bond of custodial trustee.
554B-16 Limitations of action against custodial trustee.
554B-17 Termination and distribution.
554B-18 Implementation, methods, and forms for creating custodial trusts.