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Current as of January 01, 2023 | Updated by FindLaw Staff
(a) A personal representative or trustee may make an irrevocable transfer pursuant to G.S. 33A-9 to a custodian for the benefit of a minor as authorized in the governing will or trust.
(b) If the testator or settlor has nominated a custodian under G.S. 33A-3 to receive the custodial property, the transfer must be made to that person.
(c) If the testator or settlor has not nominated a custodian under G.S. 33A-3, 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 G.S. 33A-9(a).
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 33A. North Carolina Uniform Transfers to Minors Act § 33A-5. Transfer authorized by will or trust - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-33a-north-carolina-uniform-transfers-to-minors-act/nc-gen-st-sect-33a-5.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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