[WSBAPT] UTMA to age 23 permitted?

[Cyrus Field]

Folks- I am revising an estate on short notice due to unexpected serious
surgery and we are completing the IRA designation forms. Client wants
grandchildren as contingent beneficiaries and I'm working on Nomination of
Custodianship appointments pursuant to Wa's UTMA. Client wants custodianship
to terminate at age 23, not the usual 25. I thought that was permissible
until I looked at 11.114.200(2) which says the transferor in the nomination
may extend the custodianship "to  the earlier" of the minor attaining 25 yoa
or death, not "up to". As such I am not sure age 23 is permissible and my
handy legal resources are not much help. Anyone out there know off the top
whether a custodianship can terminate between 21 or 25 yoa? Thanks in
advance, Cy 

 

Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon)

phone: 360-472-1223 Mail: POB 367, Shaw Island, WA 98286 Office: 640 Mullis
St. Friday Harbor, WA

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