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General Laws of Massachusetts - Chapter 203B Uniform Custodial Trust Act.
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Massachusetts Laws > Uniform Custodial Trust Act > General Laws of Massachusetts - Chapter 203B Uniform Custodial Trust Act.
- Massachusetts General Laws - Definitions - Chapter 203B, Section 1
This chapter shall be known as and may be cited as the Massachusetts Uniform Custodial Trust Act. As used in this chapter the following words...
- Massachusetts General Laws - Creation; termination;augmentation of custodial trust property - Chapter 203B, Section 2
(a) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration or by...
- Massachusetts General Laws - Designation of substitute or successor custodial trustee - Chapter 203B, Section 3
(a) A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon...
- Massachusetts General Laws - Receipt and acceptance of trust property - Chapter 203B, Section 4
(a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, shall arise under this chapter upon the custodial trustee’s acceptance,...
- Massachusetts General Laws - Transfer for benefit of incapacitated individual - Chapter 203B, Section 5
(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to section three, a person, including a fiduciary other than a custodial trustee,...
- Massachusetts General Laws - Multiple beneficiaries - Chapter 203B, Section 6
(a) Beneficial interests in a custodial trust created for multiple beneficiaries shall be deemed to be separate custodial trusts of equal undivided interests for each...
- Massachusetts General Laws - Management of trust property; standard of care; duty to keep records - Chapter 203B, Section 7
(a) If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. (b) If the beneficiary is not incapacitated,...
- Massachusetts General Laws - Rights and powers over trust property - Chapter 203B, Section 8
(a) A custodial trustee, acting in a fiduciary capacity, shall have all the rights and powers over custodial trust property which an unmarried adult owner...
- Massachusetts General Laws - Payments to beneficiary - Chapter 203B, Section 9
(a) A custodial trustee shall pay to the beneficiary or expend for the beneficiary’s use and benefit so much or all of the custodial trust...
- Massachusetts General Laws - Claims against custodial property; liability of trustee or beneficiary - Chapter 203B, Section 12
(a) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or...
- Massachusetts General Laws - Trustee declining to serve; resigning; successor; petition for removal of trustee - Chapter 203B, Section 13
(a) Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the designation,...
- Massachusetts General Laws - Reimbursement for expenses; compensation - Chapter 203B, Section 14
Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee: (1)...
- Massachusetts General Laws - Written statement of trust property; accounting - Chapter 203B, Section 15
(a) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter provide...
- Massachusetts General Laws - Claims for relief; limitation of actions - Chapter 203B, Section 16
(a) Except as provided in subsection (c), unless previously barred by adjudication, consent, or limitation, a claim for relief against a custodial trustee for accounting...
- Massachusetts General Laws - Transfer of trust property upon termination of trust - Chapter 203B, Section 17
(a) Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property: (1) to the beneficiary, if not incapacitated or...
- Massachusetts General Laws - Transfer of property to create trust - Chapter 203B, Section 18
(a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of section two...
- Massachusetts General Laws - Applicability - Chapter 203B, Section 19
(a) This chapter shall apply to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the...
Last modified: March 17, 2010
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