A. A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property that an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.

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Terms Used In Arizona Laws 14-9108

  • Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
  • Custodial trustee: means a person who is designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated. See Arizona Laws 14-9101
  • Fiduciary: A trustee, executor, or administrator.
  • Fiduciary: includes a personal representative, guardian, conservator and trustee. See Arizona Laws 14-1201
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional or successor trustee, whether or not appointed or confirmed by the court. See Arizona Laws 14-1201

B. This section does not relieve a custodial trustee from liability for a violation of section 14-9107.

 

 

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