DIY Legal Forms

“Help us to stay online by your kind donation.

Every penny will help.”

PayPal

Gift to Minor Under Uniform Gift to Minors Act

(Type A)

1. Delivery of Property to Custodian. I, [name], residing at [address] (Donor), deliver to [name], residing at [address] (Custodian), as Custodian for my child [name] (Minor), during my child's minority, certificates representing [number] shares of (Minor), during my child's minority, certificates representing [number] shares of [name of corporation] stock [or, shares] together with stock powers signed in blank.

2. Unrestricted Gift. This delivery constitutes an unrestricted and irrevocable gift to Minor of the shares and vests in Minor's full legal and equitable title to the shares including the shares' earnings and proceeds.

3. Registration of Gift. During the periods of custodianship, the shares shall be registered in Custodian's name, as custodian for Minor.

4. Powers of Custodian. Custodian, during the period of custodianship, is authorized to:

a. Receive Income. Receive the income from the shares;

b. Vote the Shares. Exercise all the rights and privileges of a shareholder in [name of corporation];

c. Sell the Shares. Sell the shares on a recognized Exchange, and employ a broker and pay broker's commissions for that purpose;

d. Reinvest Sales Proceeds. If the shares are sold, reinvest the proceeds of the sale in other securities or property; and

e. Powers With Regard to Substituted Property. If the shares are sold and the proceeds reinvested, exercise the same powers with regard to the substituted property as are authorized with regard to the shares.

5. Duties of Custodian. Custodian, during the period of custodianship, must:

a. Pay over to Minor all income earned by the shares or by any property purchased with the proceeds of a sale of the shares. The income need not be paid directly to Minor but may be applied for Minor's benefit or paid to any of Minor's adult relatives, other than me, to be applied to Minor's benefit.

b. Manage the stock and any property purchased from the proceeds of the sale of the shares in a prudent manner.

6. Custodian to Serve Without Bond. Custodian shall not be required to post a bond or other surety for the full and faithful performance of Custodian's duties.

7. Termination of Custodianship. Custodian may terminate the custodianship before Minor reaches Minor's majority by (a) distributing to Minor or expending on Minor's behalf all the proceeds derived from the sale of the shares or of any substituted property or (b) by registering the shares or any substituted property in Minor's name and delivering them or it to Minor. If a guardian of Minor's property should be appointed during the custodianship. Custodian shall register the shares or substituted property in the guardian's name and promptly deliver them or it to the guardian.

8. Child's Death. If Minor should die before the termination of the custodianship, Custodian shall register the shares or substituted property in the name of the legal representative of Minor's estate and deliver the shares or substituted property to the representative.

9. Child Reaching Majority. When Minor reaches Minor's majority, Custodian shall register the shares or substituted property in Minor's name and promptly deliver them or it to Minor.

10. Successor Custodian. If Custodian dies or becomes incapacitated before the custodianship terminates, and if I am not alive, [name and relationship] shall appoint a successor custodian who shall have the same powers, duties, and privileges as if he or she were the original Custodian.

[dated]

[signature]

Donor

Accepted:

[signature]

Custodian

This Section for Notary:

Acknowledgment

State of _________

County of ________ [County]

On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Witness my hand and official seal.

Signature ________
Notary

My commission expires: _____

(Seal)