{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-904.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-904.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-904.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-904.html"}],"law_id":77892,"edition_id":1,"section_id":77892,"structure_id":13564,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","history":"1990, c. 264, \u00a7 55-34.5; 1995, c. 444; 2012, c. 614; 2014, c. 532.","full_text":"A\n\nUnless otherwise directed by an instrument designating a custodial trustee pursuant to § 64.2-902, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary’s family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds $25,000, the transfer is not effective unless authorized by the court.B\n\nWith court approval, any person, including a conservator, guardian, or other fiduciary who holds property of or owes a debt to an incapacitated individual, may make a transfer to any person as a custodial trustee for the use and benefit of the incapacitated individual. The court, in the exercise of its discretion, may require the custodial trustee to furnish a bond with surety for the faithful performance of his fiduciary duties.C\n\nA written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.","order_by":null,"text":{"0":{"id":279323,"text":"Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 64.2-902, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary’s family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds $25,000, the transfer is not effective unless authorized by the court.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":279324,"text":"With court approval, any person, including a conservator, guardian, or other fiduciary who holds property of or owes a debt to an incapacitated individual, may make a transfer to any person as a custodial trustee for the use and benefit of the incapacitated individual. The court, in the exercise of its discretion, may require the custodial trustee to furnish a bond with surety for the faithful performance of his fiduciary duties.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":279325,"text":"A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.","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; effect","url":"\/64.2-909\/","token":"64.2\/III\/9\/64.2-909","metadata":false},{"id":85961,"structure_id":13564,"section_number":"64.2-910","catch_line":"Exemption of third person from liability","url":"\/64.2-910\/","token":"64.2\/III\/9\/64.2-910","metadata":false},{"id":60757,"structure_id":13564,"section_number":"64.2-911","catch_line":"Liability to third person; exceptions","url":"\/64.2-911\/","token":"64.2\/III\/9\/64.2-911","metadata":false},{"id":84334,"structure_id":13564,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","url":"\/64.2-912\/","token":"64.2\/III\/9\/64.2-912","metadata":false},{"id":68794,"structure_id":13564,"section_number":"64.2-913","catch_line":"Expenses, compensation, and bond of custodial trustee","url":"\/64.2-913\/","token":"64.2\/III\/9\/64.2-913","metadata":false},{"id":67869,"structure_id":13564,"section_number":"64.2-914","catch_line":"Reporting and accounting by custodial trustee; determination of liability","url":"\/64.2-914\/","token":"64.2\/III\/9\/64.2-914","metadata":false},{"id":61760,"structure_id":13564,"section_number":"64.2-915","catch_line":"Limitations of action against custodial trustee","url":"\/64.2-915\/","token":"64.2\/III\/9\/64.2-915","metadata":false},{"id":58406,"structure_id":13564,"section_number":"64.2-916","catch_line":"Distribution on termination","url":"\/64.2-916\/","token":"64.2\/III\/9\/64.2-916","metadata":false},{"id":75814,"structure_id":13564,"section_number":"64.2-917","catch_line":"Methods and forms for creating custodial trusts","url":"\/64.2-917\/","token":"64.2\/III\/9\/64.2-917","metadata":false},{"id":71807,"structure_id":13564,"section_number":"64.2-918","catch_line":"Applicable law","url":"\/64.2-918\/","token":"64.2\/III\/9\/64.2-918","metadata":false}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-904\/","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 3 times. 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. Those modifications are as follows: in 1995, chapter 444<\/a>; in 2012, chapter 614<\/a>; in 2014, chapter 532<\/a>.<\/p>","references":[{"id":68505,"section_number":"64.2-909","catch_line":"Determination of incapacity; effect","order_by":null,"url":"\/64.2-909\/"}],"refers_to":[{"id":74644,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","order_by":null,"url":"\/64.2-902\/"}],"permalink":{"id":274753,"object_type":"law","relational_id":77892,"identifier":"64.2-904","token":"64.2\/III\/9\/64.2-904","url":"\/64.2-904\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-904\/","token":"64.2\/III\/9\/64.2-904","dublin_core":{"Title":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-904","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Unless otherwise directed by an instrument designating a custodial trustee<\/span> pursuant to § 64.2-902<\/a>, a person<\/span>, including a fiduciary<\/span> other than a custodial trustee<\/span>, who holds property of or owes a debt to an incapacitated<\/span> individual not having a conservator<\/span> may make a transfer to an adult<\/span> member of the beneficiary<\/span>’s family or to a trust company<\/span> as custodial trustee<\/span> for the use and benefit of the incapacitated<\/span> individual. If the value<\/span> of the property or the debt exceeds $25,000, the transfer is not effective unless authorized by the court<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> With court<\/span> approval, any person<\/span>, including a conservator<\/span>, guardian<\/span>, or other fiduciary<\/span> who holds property of or owes a debt to an incapacitated<\/span> individual, may make a transfer to any person<\/span> as a custodial trustee<\/span> for the use and benefit of the incapacitated<\/span> individual. The court<\/span>, in the exercise of its discretion, may require the custodial trustee<\/span> to furnish a bond<\/span> with surety<\/span> for the faithful performance of his fiduciary<\/span> duties. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A written acknowledgment of delivery, signed by a custodial trustee<\/span>, is a sufficient receipt and discharge for property transferred to the custodial trustee<\/span> pursuant to this section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRANSFER TO CUSTODIAL TRUSTEE BY FIDUCIARY OR OBLIGOR; FACILITY OF PAYMENT (\u00a7\n64.2-904)\n\nA. Unless otherwise directed by an instrument designating a custodial trustee\npursuant to § 64.2-902, a person, including a fiduciary other than a\ncustodial trustee, who holds property of or owes a debt to an incapacitated\nindividual not having a conservator may make a transfer to an adult member of\nthe beneficiary’s family or to a trust company as custodial trustee for\nthe use and benefit of the incapacitated individual. If the value of the\nproperty or the debt exceeds $25,000, the transfer is not effective unless\nauthorized by the court.\n\nB. With court approval, any person, including a conservator, guardian, or other\nfiduciary who holds property of or owes a debt to an incapacitated individual,\nmay make a transfer to any person as a custodial trustee for the use and benefit\nof the incapacitated individual. The court, in the exercise of its discretion,\nmay require the custodial trustee to furnish a bond with surety for the faithful\nperformance of his fiduciary duties.\n\nC. A written acknowledgment of delivery, signed by a custodial trustee, is a\nsufficient receipt and discharge for property transferred to the custodial\ntrustee pursuant to this section.\n\nHISTORY: 1990, c. 264, \u00a7 55-34.5; 1995, c. 444; 2012, c. 614; 2014, c. 532.","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}}