Idaho Code 68-804 – Transfer by Gift or Exercise of Power of Appointment
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 68-804
- Custodian: means a person so designated under section 68-809, Idaho Code, or a successor or substitute custodian designated under section 68-818, Idaho Code. See Idaho Code 68-801
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Minor: means an individual who has not attained the age of twenty-one (21) years. See Idaho Code 68-801
- Person: means an individual, corporation, organization, or other legal entity. See Idaho Code 68-801
- Transfer: means a transaction that creates custodial property under section 68-809, Idaho Code. See Idaho Code 68-801
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to section 68-809, Idaho Code.