Alaska Statutes 13.60.030 – Form and effect of receipt and acceptance by custodial trustee; jurisdiction
Terms Used In Alaska Statutes 13.60.030
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
- property: includes real and personal property. See Alaska Statutes 01.10.060
- Trustee: A person or institution holding and administering property in trust.
- writing: includes printing. See Alaska Statutes 01.10.060
CUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE
I, ________ (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ________ (name of beneficiary) under the Alaska Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property under the Alaska Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ___________________________________________________________________.
Dated ___________________________________________________
_________________________________________________________
(Signature of Custodial Trustee).