14-9109. Use of custodial trust property
186 words·~1 min read·
/az/title-14/14-9109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A custodial trustee shall pay to the beneficiary or expend for the beneficiary's use and benefit as much or all of the custodial trust property as the beneficiary while not incapacitated may direct from time to time.
B. If the beneficiary is incapacitated, the custodial trustee shall expend as much or all of the custodial trust property as the custodial trustee considers advisable for the use and benefit of the beneficiary and individuals who were supported by the beneficiary when the beneficiary became incapacitated or who are legally entitled to support by the beneficiary. Expenditures may be made in the manner, when and to the extent that the custodial trustee determines suitable and proper, without court order and without regard to other support, income or property of the beneficiary.
C. A custodial trustee may establish checking, savings or other similar accounts of reasonable amounts that either the custodial trustee or the beneficiary may withdraw funds from or draw checks against. Funds withdrawn from or checks written against the account by the beneficiary are distributions of custodial trust property by the custodial trustee to the beneficiary.