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2007 SESSION

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HB 2831 Transfers to minors act; enables custodian of trust to transfer property without a court order.

Introduced by: C. Todd Gilbert | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Transfers to minors act; custodial trusts.  The bill enables the custodian of a trust benefiting a minor to transfer property, after the minor has reached age 21, to a qualified minor's trust. Such a transfer has the effect of terminating the custodianship to the extent of the property transferred.

SUMMARY AS INTRODUCED:

Transfers to minors act; custodial trusts.  The bill enables the custodian of a trust benefiting a minor to transfer property, after the minor has reached age 21, to either a qualified minor's trust or other trust that the benefits the minor solely and provides him a general power of appointment.