Section 11.5 Creation of Custodianship—Generally

• Library: Trusts and Powers 2013 Supp

A. (§11.5) Creation of Custodianship—Generally

A minor’s custodianship is created whenever property is placed in the name of a person by a writing that uses in substance the words “as custodian for . . . (name of minor) under the Missouri Transfers to Minors Law [(MTML), §§ 404.005–404.094, RSMo 2000].” Section 404.047.1, RSMo 2000. Immediate or simultaneous delivery of the property to the custodian is not required to create a minor’s custodianship. Section 404.047.2 and .3. A writing is sufficient if it uses abbreviations such as “CUST TML-Mo.” Out-of-state banks, brokers, and transfer agents may use an abbreviation indicating the uniform act such as “UTMA-Mo.” Section 404.047.1 provides that only the “substance” of the statutory words is required. Any...