(a) A custodian may deliver or pay to the minor or expend for the minor’s benefit as 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 (1) the duty or ability of the custodian personally, or of any other person, to support the minor or (2) any other income or property of the minor which may be applicable or available for that purpose.
(b) 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.
(c) 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.
(d) In lieu of the powers and duties described in subdivision (a), a transferor who is also the custodian may elect to govern his or her custodial powers and duties under this subdivision. If such election is made, the custodian shall not pay over to the minor for expenditure by the minor, and shall not expend for the minor’s use or benefit, any part of the custodial property for any purpose prior to the time specified in Section 3920, except by order of the court upon a showing that the expenditure is necessary for the support, maintenance, or education of the minor. When the powers and duties of the custodian are governed by this subdivision, the transferor-custodian shall file with the clerk of the court a declaration in substantially the following form:
Declaration Under the California Uniform | |
I, _____ (Name of Transferor-Custodian) _____ , | |
as custodian for _____ (Name of Minor) _____ | |
under the California Uniform Transfers to Minors Act, hereby | |
irrevocably elect to be governed under subdivision (d) of Section | |
3914 of the Probate Code in my custodial capacity over the following | |
described property | |
_____ (Description of Custodial Property) _____ . | |
I declare under penalty of perjury that the foregoing is true and correct. Dated: ____________, 19___ | |
_____ (Signature of Transferor-Custodian) _____ |
(Enacted by Stats. 1990, Ch. 79.)