UTMA: How should the custodian sign the signature card?
by Ken Golliher, BOL Guru
BIO AND CONTACT INFO
QUESTION: On a UTMA account, how should the custodian sign the signature card for a child in the state of Kentucky? Below is how we have done in the past. "John Doe by Jane Doe parent/custodian"
ANSWER: Properly titled, the account reads "John Doe, beneficiary KYUTMA, Jane Doe, custodian." So, an approporiate signature is "Jane Doe, Custodian." The custodian is signing for herself, not the child.
Actually, it is not essential that the word "custodian" be part of the signature, however it is always a good practice to indicate when you are signing in a fiduciary or representative capacity.
First published on BankersOnline.com 5/06/02
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