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When was The Custodian created?

Updated: 8/21/2019
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9y ago

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The Custodian was created in 1993.

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Can a custodian's power of attorney transact on behalf of the minor on an ugtma?

If the custodian is the custodian or successor of the UGTMA in the event of the custodians death - yes by definition that is the custodians responsibility. If the custodian is, for example, the custodian of the estate of the adult who had custodial control of the UGTMA account the situation is different. A successor trustee is normally required when setting up the custodial account. If so, that successor custodian as named in the UGTMA account would have those powers. In this example, if the successor custodian is different on the UGTMA account than the custodian or trustee of the estate, the UGTMA account successor custodian would take precedence. Remember, the assets are in the minors estate not the custodians.


Does custodian have a long vowel or a short vowel?

Custodian has a short "u" and a long "i" and a long "o".