Title 68, TRUSTS AND FIDUCIARIES

68-1310. Determination of incapacity — Effect. (1) The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if (i) the custodial trust was created under section 68-1305, Idaho Code, (ii) the transferor has so directed in the instrument creati…

68-1311. Exemption of third person from liability. A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of…

68-1312. Liability to third person. (1) A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property, or a tort committed in the course of administering the custodia…

68-1313. Declination, resignation, incapacity, death, or removal of custodial trustee — Designation of successor custodial trustee. (1) Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made th…

68-1314. Expenses, compensation and bond of custodial trustee. 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) Is entitled to reimbursement from custodial trust property…

68-1315. Reporting and accounting by custodial trustee — Determination of liability of custodial trustee. (1) Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter prov…

68-1316. Limitations of action against custodial trustee. (1) Except as provided in subsection (3) of this section, unless previously barred by adjudication, consent, or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a …

68-1317. Distribution on termination. (1) Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property: (a) To the beneficiary, if not incapacitated or deceased; (b) To the conservator or other recipient designated by the cou…

68-1318. 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 68-1302, Idaho Code, are satisfied by: (a) The execution and eit…

68-1319. Applicable law. (1) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of b…

68-1320. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.

68-1321. Short title. This chapter may be cited as the "Idaho Uniform Custodial Trust Act."

68-1322. Severability. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to…

68-1401. Application. The provisions of this chapter apply when: (1) A court approves a compromise of a judgment on a disputed claim of a minor or incompetent person, the execution of a release of a claim or covenant not to enforce a judgment on a claim of a minor or incompetent …

68-1402. Order directing payment of expenses, costs and fees. (1) As part of the order approving a compromise, release, covenant or judgment pursuant to this chapter, the court shall also order that the reasonable and necessary expenses of the minor or incompetent person includin…

68-1403. Disposition of balance. (1) If there is no guardianship or conservatorship of the estate of the minor or incompetent person, the balance of the money or property, after payment of all expenses approved by the court pursuant to this chapter, shall be paid, delivered or de…

68-1404. Incompetent persons. [effective until January 1, 2027] References in this chapter to "incompetent person," shall be deemed to include persons for whom a conservator may be appointed pursuant to section 15-5-401, Idaho Code.

68-1405. Special needs trusts — Requirements — Jurisdiction of court — Court orders. (1) If a court orders that money of a minor or incompetent person be paid to a special needs trust, the terms of the trust shall be reviewed and approved by the court and shall satisfy the requir…