14-9118

14-9118. Methods and forms for creating
custodial trusts

A. If a transaction, including a declaration with respect to or a transfer of
specific property, otherwise satisfies applicable law, the criteria of section 14-9102
are satisfied by either:

1. The execution and either delivery to the custodial trustee or recording of an
instrument in substantially the following form:

Transfer under the Arizona

Uniform Custodial Trust Act

I, _______________ (name of transferor or name and representative
capacity if a fiduciary), transfer to _______________ (name of trustee other
than transferor), as custodial trustee for __________________ (name of
beneficiary) as beneficiary and ________________ as distributee on termination
of the trust in absence of direction by the beneficiary under the Arizona
uniform custodial trust act, the following:
______________________________________________________ (insert a description
of the custodial trust property legally sufficient to identify and transfer
each item of property).

Dated: _______________________

______________________________

(Signature).

2. The execution and the recording or giving notice of its execution to the
beneficiary of an instrument in substantially the following form:

Declaration of Trust under the Arizona

Uniform Custodial Trust Act

I, __________________ (name of owner of property), declare that I hold
as custodial trustee for ___________________ (name of beneficiary other than
transferor) as beneficiary and ______________________ as distributee on
termination of the trust in absence of direction by the beneficiary under the
Arizona uniform custodial trust act, the following:
_______________________________________________________________ (Insert a
description of the custodial trust property legally sufficient to identify and
transfer each item of property).

Dated: _______________________

______________________________

(Signature)

B. Customary methods of transferring or evidencing ownership of property may be
used to create a custodial trust, including any of the following:

1. Registration of a security in the name of a trust company, an adult other than
the transferor or the transferor if the beneficiary is other than the transferor,
designated in substance: "as custodial trustee for _______________ (name of beneficiary)
under the uniform custodial trust act pursuant to title 14, chapter 9, Arizona Revised
Statutes".

2. Delivery of a certificated security or a document necessary for the transfer of
an uncertificated security, together with any necessary endorsement, to an adult other
than the transferor or to a trust company as custodial trustee, accompanied by an
instrument in substantially the form prescribed in subsection A of this section.

3. Payment of money or transfer of a security held in the name of a broker or a
financial institution or its nominee to a broker or financial institution for credit to
an account in the name of a trust company, an adult other than the transferor or the
transferor if the beneficiary is other than the transferor, designated in substance: "as
custodial trustee for _______________ (name of beneficiary) under the uniform custodial
trust act pursuant to title 14, chapter 9, Arizona Revised Statutes".

4. Registration of ownership of a life or endowment insurance policy or annuity
contract with the issuer in the name of a trust company, an adult other than the
transferor or the transferor if the beneficiary is other than the transferor, designated
in substance: "as custodial trustee for _______________ (name of beneficiary) under the
uniform custodial trust act pursuant to title 14, chapter 9, Arizona Revised Statutes".

5. Delivery of a written assignment to an adult other than the transferor or to a
trust company whose name in the assignment is designated in substance by the words: "as
custodial trustee for _______________ (name of beneficiary) under the uniform custodial
trust act pursuant to title 14, chapter 9, Arizona Revised Statutes".

6. Irrevocable exercise of a power of appointment, pursuant to its terms, in favor
of a trust company, an adult other than the donee of the power or the donee who holds the
power if the beneficiary is other than the donee, whose name in the appointment is
designated in substance: "as custodial trustee for _______________ (name of beneficiary)
under the uniform custodial trust act pursuant to title 14, chapter 9, Arizona Revised
Statutes".

7. Delivery of a written notification or assignment of a right to future payment
under a contract to an obligor that transfers the right under the contract to a trust
company, an adult other than the transferor or the transferor if the beneficiary is other
than the transferor, whose name in the notification or assignment is designated in
substance: "as custodial trustee for _______________ (name of beneficiary) under the
uniform custodial trust act pursuant to title 14, chapter 9, Arizona Revised Statutes".

8. Execution, delivery and recordation of a conveyance of an interest in real
property in the name of a trust company, an adult other than the transferor or the
transferor if the beneficiary is other than the transferor, designated in substance: "as
custodial trustee for _______________ (name of beneficiary) under the uniform custodial
trust act pursuant to title 14, chapter 9, Arizona Revised Statutes".

9. Issuance of a certificate of title by an agency of a state or of the United
States that evidences title to tangible personal property that is either:

(a) Issued in the name of a trust company, an adult other than the transferor or
the transferor if the beneficiary is other than the transferor, designated in substance:
"as custodial trustee for _______________ (name of beneficiary) under the uniform
custodial trust act pursuant to title 14, chapter 9, Arizona Revised Statutes".

(b) Delivered to a trust company or an adult other than the transferor or endorsed
by the transferor to that person, designated in substance: "as custodial trustee for
_______________ (name of beneficiary) under the uniform custodial trust act pursuant to
title 14, chapter 9, Arizona Revised Statutes".

10. Execution and delivery of an instrument of gift to a trust company or an adult
other than the transferor, designated in substance: "as custodial trustee for
_______________ (name of beneficiary) under the uniform custodial trust act pursuant to
title 14, chapter 9, Arizona Revised Statutes".