Section 4. (a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, shall arise under this chapter upon the custodial trustee's acceptance, express or implied, of the custodial trust property.
(b) The custodial trustee's acceptance may be evidenced by a writing stating in substance:
CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE
I, ___ (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ___ (name of beneficiary) under the Massachusetts Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Massachusetts Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ___
Dated ______________________________________
____________________________________________
(Signature of Custodial Trustee)
(c) Upon accepting custodial trust property, a person designated as custodial trustee under this chapter shall be subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.
Structure Massachusetts General Laws
Part II - Real and Personal Property and Domestic Relations
Chapter 203b - Uniform Custodial Trust Act
Section 2 - Creation; Termination; Augmentation of Trust Property; Designation of Successor Trustee
Section 3 - Designation as Substitute or Successor Custodial Trustees
Section 4 - Custodial Trustee's Acceptance
Section 5 - Transfer of Trust Property for Use and Benefit of Incapacitated Individual
Section 6 - Multiple Beneficiaries; Right of Survivorship
Section 7 - Vesting Title; Management of Trust Property; Duties
Section 8 - Trustee's Rights and Powers Over Trust Property
Section 9 - Payments to Beneficiaries
Section 10 - Administration of Trust for Incapacitated Beneficiary; Determination of Incapacity
Section 11 - Third Person Dealing With One Purporting to Act as Trustee
Section 12 - Claims Against Trust Property; Trustee, Beneficiary Liability
Section 13 - Trustee Declining to Serve; Resignation; Petition for Removal
Section 15 - Written Statement of Property and Administration; Petition for Accounting
Section 16 - Claims for Relief; Time Limitations
Section 17 - Termination of Trust; Order of Distribution