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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 60. Uniform Custodial Trust Act
- Section 50. Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.
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. Transfer to Custodial Trustee By Fiduciary, Obligor, or Other Person; Facility of Payment.
next: Section 60
. General Duties of Custodial Trustee.
AS 13.60.050. Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.
- (a) Beneficial interests in a custodial trust created for multiple beneficiaries are considered to be separate custodial
trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of a
married couple, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument
creating the custodial trust specifically provides for survivorship.
- (b) Custodial trust property held under this chapter by the same custodial trustee for the use and benefit of the same
beneficiary may be administered as a single custodial trust.
- (c) A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each
beneficiary under AS 13.60.060 and 13.60.140 for the administration of the custodial trust.
- (d) The provisions of (b) of this section do not apply to a custodial trust established under AS 13.12.212
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