(a) A personal representative or trustee may make an irrevocable
transfer pursuant to 7-6.9 to a custodian for the benefit of a minor as
authorized in the governing will or trust.
(b) If the testator or settler has nominated a custodian under 7-6.3
to receive the custodial property, the transfer must be made to that
person.
(c) If the testator or settler has not nominated a custodian under
7-6.3, or all persons so nominated as custodian die before the transfer
or are unable, decline, or are ineligible to serve, the personal
representative or the trustee, as the case may be, shall designate the
custodian from among those eligible to serve as custodian for property
of that kind under paragraph (a) of 7-6.9.
Structure New York Laws
EPT - Estates, Powers and Trusts
Part 6 - Uniform Transfers to Minors Act
7-6.2 - Scope and Jurisdiction
7-6.3 - Nomination of Custodian
7-6.4 - Transfer by Gift or Exercise of Power of Appointment
7-6.5 - Transfer Authorized by Will or Trust
7-6.6 - Other Transfer by Fiduciary
7-6.8 - Receipt for Custodial Property
7-6.11 - Validity and Effect of Transfer
7-6.12 - Care of Custodial Property
7-6.14 - Use of Custodial Property
7-6.15 - Custodian's Expenses, Compensation, and Bond
7-6.16 - Exemption of Third Person From Liability
7-6.17 - Liability to Third Persons
7-6.19 - Accounting by and Determination of Liability of Custodian
7-6.20 - Termination of Custodianship
7-6.21 - Age Eighteen Election
7-6.22 - Effect on Existing Custodianships