Section 30-2-8.6-18 - Creating a custodial trust(a) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration of the property or by an instrument of transfer that: (1) is executed in any lawful manner;(2) names an individual as beneficiary who may be the transferor; and(3) in substance, designates the transferee to be the custodial trustee of the property under this chapter.(b) A person may create a custodial trust of property by a written declaration evidenced by registration of the property or by another instrument of declaration that: (1) is executed in any lawful manner;(2) describes the property;(3) names as beneficiary an individual other than the declarant; and(4) in substance, designates the declarant, who is also the titleholder of the property, to be the custodial trustee of the property under this chapter.(c) A registration or other declaration of trust for the sole benefit of the declarant is not a custodial trust under this chapter.(d) Title to custodial trust property is in the custodial trustee and the beneficial interest is in the beneficiary.As added by P.L. 3-2003, SEC.1.