Delaware Code Title 12 Sec. 4505 – Transfer authorized by will or trust
(a) A personal representative or trustee may make an irrevocable transfer pursuant to § 4509 of this title to a custodian for the benefit of a minor as authorized in the governing will or trust.
Terms Used In Delaware Code Title 12 Sec. 4505
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
(b) If the testator or settlor has nominated a custodian under § 4503 of this title to receive the custodial property, the transfer must be made to that person.
(c) If the testator or settlor has not nominated a custodian under § 4503 of this title, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under § 4509(a) of this title.