710.111 Manner of creating custodial property and effecting transfer; designation of initial custodian; control.--
(1) Custodial property is created and a transfer is made whenever:
(a) An uncertificated security or a certificated security in registered form is either:
1. Registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for (name of minor) under the Florida Uniform Transfers to Minors Act"; or
2. Delivered if in certificated form, or any document necessary for the transfer of an uncertificated security is delivered, together with any necessary endorsement to an adult other than the transferor or to a trust company as custodian, accompanied by an instrument in substantially the form set forth in subsection (2);
(b) Money is paid or delivered to a broker or financial institution for credit to an account in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the words: "as custodian for (name of minor) under the Florida Uniform Transfers to Minors Act"; "
We have always established FLUTMAs as:
Billy Smith
Beneficiary under FLUTMA
John Smith, Custodian
We have always established IRAs as:
John Smith
ABC Bank as Custodian of IRA
_________________________
Life without Jesus is like an unsharpened pencil - it has no point.