RCW 11.114.030
Nomination of custodian—Designation of custodian by representative or specified person.
(1) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words: ". . . . . . as custodian for . . . . . . (name of minor) under the Washington uniform transfers to minors act." The nomination may name one or more persons as substitute custodians to whom the property shall be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines, or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer, or other obligor of the contractual rights.
As an alternative to naming a specific person as custodian, the nomination may provide that the custodian may be designated by the legal representative of, or other person specified by, the person having the right to designate the recipient of the property described in this subsection. The person having the right of designation of the custodian is authorized to designate himself or herself as custodian, if he or she falls within the class of persons eligible to serve as custodian under RCW 11.114.090(1).
(2) A custodian nominated under this section shall be a person to whom a transfer of property of that kind may be made under RCW 11.114.090(1).
(3) Instead of designating one specific minor, the designation may specify multiple persons or a class or classes of persons, but when the custodial property is actually created under subsection (4) of this section, it must be constituted as a separate custodianship for each beneficiary, and each beneficiary's interest in it must be determined in accordance with the governing instrument and applicable law.
(4) The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under RCW 11.114.090. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to RCW 11.114.090.
[ 1998 c 292 § 301; 1991 c 193 § 3.]
NOTES:
Retroactive application—1998 c 292: See note following RCW 11.54.070.
Effective dates—1998 c 292: See RCW 11.11.903.
Structure Revised Code of Washington
Title 11 - Probate and Trust Law
Chapter 11.114 - Uniform Transfers to Minors Act.
11.114.020 - Scope and jurisdiction.
11.114.030 - Nomination of custodian—Designation of custodian by representative or specified person.
11.114.040 - Transfer by gift or exercise of power of appointment.
11.114.050 - Transfer authorized by will or trust.
11.114.060 - Other transfer by fiduciary.
11.114.070 - Transfer by obligor.
11.114.080 - Receipt for custodial property.
11.114.090 - Form and manner of creating custodial property and effecting transfer.
11.114.100 - Single custodianship.
11.114.110 - Validity and effect of transfer.
11.114.120 - Care of custodial property.
11.114.130 - Powers of custodian.
11.114.140 - Use of custodial property.
11.114.150 - Custodian's expenses, compensation, and bond.
11.114.160 - Exemption of third person from liability.
11.114.170 - Liability to third persons.
11.114.190 - Accounting by and determination of liability of custodian.
11.114.200 - Termination of custodianship—Extension.
11.114.220 - Effect on existing custodianships.
11.114.230 - Uniformity of application and construction.