Current through the 2024 Regular Session
Section 68-1305 - TRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR - FACILITY OF PAYMENT(1) Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 68-1303, Idaho Code, 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.(2) 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.[68-1305, added 1989, ch. 230, sec. 1, p. 550.]