{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-902.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-902.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-902.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-902.html"}],"law_id":74644,"edition_id":1,"section_id":74644,"structure_id":13564,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","history":"1990, c. 264, \u00a7 55-34.3; 2012, c. 614.","full_text":"A\n\nA person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: “as custodial trustee for……………..… (name of beneficiary) under the Virginia Uniform Custodial Trust Act.”B\n\nPersons may be designated as substitute or successor custodial trustees to whom the property shall be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve.C\n\nA designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment, or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation shall be registered with or delivered to the fiduciary, payor, issuer, or obligor of the future right.","order_by":null,"text":{"0":{"id":268273,"text":"A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: “as custodial trustee for……………..… (name of beneficiary) under the Virginia Uniform Custodial Trust Act.”","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":268274,"text":"Persons may be designated as substitute or successor custodial trustees to whom the property shall be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":268275,"text":"A designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment, or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation shall be registered with or delivered to the fiduciary, payor, issuer, or obligor of the future right.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13564,"edition_id":1,"name":"Uniform Custodial Trust Act","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:45:15","date_modified":"2026-06-26 03:45:15","permalink":{"id":274735,"object_type":"structure","relational_id":13564,"identifier":"9","token":"64.2\/III\/9","url":"\/64.2\/III\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66999,"structure_id":13564,"section_number":"64.2-900","catch_line":"Definitions","url":"\/64.2-900\/","token":"64.2\/III\/9\/64.2-900","metadata":false},{"id":57024,"structure_id":13564,"section_number":"64.2-901","catch_line":"Custodial trust; creation and termination; general provisions","url":"\/64.2-901\/","token":"64.2\/III\/9\/64.2-901","metadata":false},{"id":74644,"structure_id":13564,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","url":"\/64.2-902\/","token":"64.2\/III\/9\/64.2-902","metadata":false},{"id":58164,"structure_id":13564,"section_number":"64.2-903","catch_line":"Form and effect of receipt and acceptance by custodial trustee; jurisdiction","url":"\/64.2-903\/","token":"64.2\/III\/9\/64.2-903","metadata":false},{"id":77892,"structure_id":13564,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","url":"\/64.2-904\/","token":"64.2\/III\/9\/64.2-904","metadata":false},{"id":68669,"structure_id":13564,"section_number":"64.2-905","catch_line":"Multiple beneficiaries; separate custodial trusts; survivorship","url":"\/64.2-905\/","token":"64.2\/III\/9\/64.2-905","metadata":false},{"id":64170,"structure_id":13564,"section_number":"64.2-906","catch_line":"General duties of custodial trustee","url":"\/64.2-906\/","token":"64.2\/III\/9\/64.2-906","metadata":false},{"id":73358,"structure_id":13564,"section_number":"64.2-907","catch_line":"General powers of custodial trustee","url":"\/64.2-907\/","token":"64.2\/III\/9\/64.2-907","metadata":false},{"id":54526,"structure_id":13564,"section_number":"64.2-908","catch_line":"Use of custodial trust property","url":"\/64.2-908\/","token":"64.2\/III\/9\/64.2-908","metadata":false},{"id":68505,"structure_id":13564,"section_number":"64.2-909","catch_line":"Determination of incapacity; 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jurisdiction","url":"\/64.2-903\/","token":"64.2\/III\/9\/64.2-903","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-902\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 264 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2012, chapter 614<\/a>.<\/p>","references":[{"id":77892,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","order_by":null,"url":"\/64.2-904\/"},{"id":84334,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","order_by":null,"url":"\/64.2-912\/"}],"refers_to":false,"permalink":{"id":274745,"object_type":"law","relational_id":74644,"identifier":"64.2-902","token":"64.2\/III\/9\/64.2-902","url":"\/64.2-902\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-902\/","token":"64.2\/III\/9\/64.2-902","dublin_core":{"Title":"Custodial trustee for future payment or transfer","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-902","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A person<\/span> having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: “as custodial trustee<\/span> for……………..… (name of beneficiary<\/span>) under the Virginia Uniform Custodial Trust Act.” <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Persons<\/span> may be designated as substitute or successor custodial trustees<\/span> to whom the property shall be paid or transferred in the order<\/span> named if the first designated custodial trustee<\/span> is unable or unwilling to serve. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A designation under this section may be made in a will<\/span>, a trust, a deed, a multiple-party<\/span> account, an insurance policy, an instrument exercising a power of appointment, or a writing designating a beneficiary<\/span> of contractual rights. Otherwise, to be effective, the designation shall be registered with or delivered to the fiduciary<\/span>, payor, issuer, or obligor of the future right. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCUSTODIAL TRUSTEE FOR FUTURE PAYMENT OR TRANSFER (\u00a7 64.2-902)\n\nA. A person having the right to designate the recipient of property payable or\ntransferable upon a future event may create a custodial trust upon the\noccurrence of the future event by designating in writing the recipient, followed\nin substance by: “as custodial trustee\nfor……………..… (name of beneficiary) under the\nVirginia Uniform Custodial Trust Act.”\n\nB. Persons may be designated as substitute or successor custodial trustees to\nwhom the property shall be paid or transferred in the order named if the first\ndesignated custodial trustee is unable or unwilling to serve.\n\nC. A designation under this section may be made in a will, a trust, a deed, a\nmultiple-party account, an insurance policy, an instrument exercising a power of\nappointment, or a writing designating a beneficiary of contractual rights.\nOtherwise, to be effective, the designation shall be registered with or\ndelivered to the fiduciary, payor, issuer, or obligor of the future right.\n\nHISTORY: 1990, c. 264, \u00a7 55-34.3; 2012, c. 614.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}