Code of Virginia

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Code of Virginia
Title 64.2. Wills, Trusts, and Fiduciaries
Chapter 19. Virginia Uniform Transfers to Minors Act
5/24/2022

§ 64.2-1913. Use of custodial property.

A. A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (i) the duty or ability of the custodian personally or of any other person to support the minor or (ii) any other income or property of the minor which may be applicable or available for that purpose.

B. At any time a custodian may, without court order, transfer all or part of the custodial property to a qualified minor's trust. Such a transfer terminates the custodianship to the extent of the custodial property transferred.

C. On petition of an interested person or the minor if the minor has attained the age of 14 years, the court may order the custodian to deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.

D. A delivery, payment, or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.

1988, c. 516, § 31-50; 2007, c. 307; 2012, c. 614.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.