Section 13.46.195. Changing the time for transfer of custodial property.

   (a) Subject to the requirements and limitations of this section, the time for transfer to the minor of custodial property transferred under AS 13.46.030 or 13.46.040 may be changed to a specified time other than the time the minor attains the age of 21 years. That time shall be specified in the transfer under AS 13.46.080.
   (b) To specify a changed time for transfer to the minor of the custodial property under AS 13.46.030 except for the transfer by irrevocable gift, or under AS 13.46.040, the words "as custodian for _______________ (name of minor) until age ______ (age for delivery of property to minor) under the Alaska Uniform Transfers to Minors Act" shall be substituted in substance for the words "as custodian for ___________________ (name of minor) under the Alaska Uniform Transfers to Minors Act" in making the transfer under AS 13.46.080.
   (c) To specify a changed time for transfer to the minor of the custodial property under AS 13.46.030 by irrevocable gift, the words "as custodian for __________________ (name of minor) until age _____ (age for delivery of property to minor) under the Alaska Uniform Transfers to Minors Act" or "as custodian for __________________ (name of minor) until age _____ (age for delivery of property to minor) under the Alaska Uniform Transfers to Minors Act, subject to the minor's right to compel immediate distribution of the property by giving written notice to the custodian during the six-month period beginning on the minor's 21st birthday" shall be substituted in substance for the words "as custodian for __________________ (name of minor) under the Alaska Uniform Transfers to Minors Act" in making the transfer under AS 13.46.080.
   (d) The time for transfer to the minor of custodial property transferred under AS 13.46.040 may be changed under this section if the governing will or trust or nomination provides in substance that the custodianship is to continue until the time the minor attains a specified age. That time may not be earlier than the time the minor attains 18 years of age or later than the time the minor attains 25 years of age, and in that case the governing will or trust or nomination shall determine the time to be specified in the transfer under AS 13.46.080.
   (e) The time for transfer to the minor of custodial property transferred under AS 13.46.030 may be changed under this section if the transfer under AS 13.46.080 provides in substance that the custodianship is to continue until the time the minor attains a specified age.  That time may not be earlier than the time the minor attains 18 years of age or later than the time the minor attains 25 years of age.
   (f) If the transfer under AS 13.46.080 does not specify an age, the time for the transfer of the custodial property to the minor under AS 13.46.190 is the time when the minor attains 21 years of age.
   (g) If the transfer under AS 13.46.080 provides in substance that the duration of the custodianship is for a time longer than the maximum time permitted by this section for that type of transfer, the custodianship may continue until the minor attains the maximum age permitted by this section for that type of transfer.

Authorities

13.46.190

Notes

References

AS 13.46.190 Termination of custodianship.

History

(Sec. 2 ch 11 SLA 1990)