R.I. Gen. Laws § 18-13-5

Current through 2024 Public Law 24
Section 18-13-5 - Transfer to custodial trustee by fiduciary or obligor - Facility of payment
(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 18-13-3, 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 use and benefit of the incapacitated individual. If the value of the property or the debt exceeds twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court.
(b) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

R.I. Gen. Laws § 18-13-5

P.L. 1988, ch. 623, § 1.