(1) A personal representative or trustee may make an irrevocable transfer pursuant to section 68-809, Idaho Code, to a custodian for the benefit of a minor as authorized in the governing will or trust.
(2)  If the testator or settlor has nominated a custodian under section 68-803, Idaho Code, to receive the custodial property, the transfer must be made to that person.
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Terms Used In Idaho Code 68-805

  • Custodial property: means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. See Idaho Code 68-801
  • 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
  • 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
  • Personal representative: means an executor, administrator, successor personal representative, or special administrator of a decedent’s estate or a person legally authorized to perform substantially the same functions. See Idaho Code 68-801
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Testator: A male person who leaves a will at death.
  • Transfer: means a transaction that creates custodial property under section 68-809, Idaho Code. See Idaho Code 68-801
  • Trustee: A person or institution holding and administering property in trust.
(3)  If the testator or settlor has not nominated a custodian under section 68-803, Idaho Code, or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under section 68-809(1), Idaho Code.