633F.18 Methods and forms for creating custodial trusts. 1. If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of section 633F.2 are satisfied by any of thefollowing: a. The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form: TRANSFER UNDER THE IOWA UNIFORM CUSTODIAL TRUST ACT I, __________ (name of transferor or name and representative capacity if a fiduciary), transfer to __________ (name of trusteeother than transferor), as custodial trustee for __________ (name ofbeneficiary) as beneficiary and __________ (name of distributee) asdistributee on termination of the trust in absence of direction bythe beneficiary under the Iowa Uniform Custodial Trust Act, thefollowing: __________ (Insert a description of the custodial trust property legally sufficient to identify and transfer each item of property). If __________ (name of trustee other than transferor) declines to serve or ceases to serve as custodial trustee for any reason, thenI designate __________ (name of substitute or successor custodialtrustee) as substitute or trustee other than transferor) declines to serve or ceases to serve as custodial trustee for any reason, thenI designate __________ (name of substitute or successor custodialtrustee) as substitute or successor custodial trustee. Dated: _______________Signature: _____________________ b. The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form: DECLARATION OF TRUST UNDER IOWA UNIFORM CUSTODIAL TRUST ACT I, __________ (name of owner of property), declare that henceforth I hold as custodial trustee for __________ (name ofbeneficiary other than transferor) as beneficiary and ________ (nameof distributee) as distributee on termination of the trust in absenceof direction by the beneficiary under the Iowa Uniform CustodialTrust Act, the following: __________ (Insert a description of thecustodial trust property legally sufficient to identify and transfereach item of property). If I cease to serve as custodial trustee forany reason, then I designate __________ (name of substitute orsuccessor custodial trustee) as successor custodial trustee. Dated: ____________________Signature: ___________________________ 2. stee forany reason, then I designate __________ (name of substitute orsuccessor custodial trustee) as successor custodial trustee. Dated: ____________________Signature: ___________________________ 2. Customary methods of transferring or evidencing ownership of property may be used to create a custodial trust, including any of the following: a. Registration of a security in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated insubstance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. b. Delivery of a certificated security, or a document necessary for the transfer of an uncertificated security, together with any necessary endorsement, to an adult other thanthe transferor or to a trust company as custodial trustee, accompanied by an instrument insubstantially the form prescribed in subsection 1, paragraph 'a'. c. Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the Sat Dec 23 12:17:55 2023 Iowa Code 2024, sfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the Sat Dec 23 12:17:55 2023 Iowa Code 2024, Section 633F.18 (6, 0) §633F.18, IOWA UNIFORM CUSTODIAL TRUST ACT 2 name of a trust company, an adult other than the transferor, or the transferor if the beneficiaryis other than the transferor, designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. d. Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of a trust company, an adult other than the transferor, or thetransferor if the beneficiary is other than the transferor, designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. e. Delivery of a written assignment to an adult other than the transferor or to a trust company whose name in the assignment is designated in substance by the words: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. f. o a trust company whose name in the assignment is designated in substance by the words: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. f. Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of a trust company, an adult other than the donee of the power, or the donee who holds the powerif the beneficiary is other than the donee, whose name in the appointment is designated insubstance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. g. Delivery of a written notification or assignment of a right to future payment under a contract to an obligor which transfers the right under the contract to a trust company, anadult other than the transferor, or the transferor if the beneficiary is other than the transferor,whose name in the notification or assignment is designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. h. Execution, delivery, and recordation of a conveyance of an interest in real property in the name of a trust company, an adult other than the eneficiary)under the Iowa Uniform Custodial Trust Act'. h. Execution, delivery, and recordation of a conveyance of an interest in real property in the name of a trust company, an adult other than the transferor, or the transferor if thebeneficiary is other than the transferor, designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. i. Issuance of a certificate of title by an agency of a state or of the United States which evidences title to tangible personal property: (1) Issued in the name of a trust company, an adult other than the transferor, or the transferor if the beneficiary is other than the transferor, designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. (2) Delivered to a trust company or an adult other than the transferor or endorsed by the transferor to that person, designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. j. Execution and delivery of an instrument of gift to a trust company or an adult other than the transferor, tee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. j. Execution and delivery of an instrument of gift to a trust company or an adult other than the transferor, designated in substance: 'as custodial trustee for ________________ (name of beneficiary)under the Iowa Uniform Custodial Trust Act'. 2021 Acts, ch 8, §18; 2021 Acts, ch 174, §28; 2022 Acts, ch 1021, §168 Sat Dec 23 12:17:55 2023 Iowa Code 2024, Section 633F.18 (6, 0)
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