[WSBAPT] UTMA Accounting

[Nicholas Pleasants]

The Seattle Estate Planning Council Fiduciary Handbook has a chapter on UTMA Custodian duties. See https://www.epcseattle.org/assets/Councils/Seattle-WA/library/Fiduciary%20Handbook%20Final%202009.pdf
It is a decade or so out of date now, but that is still my go-to resource. I don't think UTMA has changed since it was last updated in 2009.
Some interesting practice tips in there, so I would suggest just reading it (pages 58-63). Seems similar to a POA in that you are not required to prepare accountings but should be able to if asked.
Best,
Nick

Nicholas Pleasants | Shareholder

[OseranHahnAttyatLaw 8]

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of deborah at neillaw.com
Sent: Tuesday, May 24, 2022 2:13 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] UTMA Accounting

I represent the custodian of a UTMA account.  My client normally prepares accountings on other fiduciary cases (trusts, etc.)

I looked at 11.114.190(3) and it appears that the court may require or permit the custodian to do an accounting.  If the order creating the UTMA is silent on requiring or permitting an accounting, what is the best practice for the custodian (especially if the probate creating the UTMA is long closed).

Thanks.

Deborah Jameson
(Pronouns: she/her/hers)

Neil & Neil, P.S.
5302 Pacific Avenue
Tacoma, WA  98408
253-475-8600
253-473-5746 FAX

If your matter is urgent, please call my office.  Also, this message is not encrypted and it may not be secure or protected by attorney-client privilege.


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