{"data":{"id":"us-ky/krs-385.182","jurisdiction":"us-ky","citation":"KRS 385.182","heading":"Renunciation, resignation, death or removal of custodian -- Designation of","body":"successor custodian.\n(1) A person nominated under KRS 385.032 or designated under KRS 385.092 as\ncustodian may decline  to serve by delivering a valid disclaimer to the person who\nmade the nomination or to the transferor or the transferor's legal representative.  If\nthe event giving rise to a transfer has not occurred and no substitute custodian able,\nwilling, and eligible to serve was nominated under KRS 385.032, the person who\nmade the nomination may nominate a substitute custodian under KRS 385.032;\notherwise the transferor or the transferor's legal representative shall designate a\nsubstitute custodian at the time of the transfer, in either case from among the\npersons eligible  to serve as custodian for that kind of property under KRS\n385.092(1). The custodian so designated has the rights of a successor custodian.\n(2) A custodian at any time may designate a trust company or an adult other than a\ntransferor under KRS 385.042 as s uccessor custodian by executing and dating an\ninstrument of designation before a subscribing witness other than the successor. If\nthe instrument of designation does not contain or is not accompanied by the\nresignation of the custodian, the designation of t he successor does not take effect\nuntil the custodian resigns, dies, becomes incapacitated, or is removed.\n(3) A custodian may resign at any time by delivering written notice to the minor if the\nminor has attained the age of fourteen (14) years and to the successor custodian and\nby delivering the custodial property to the successor custodian.\n(4) If a custodian is ineligible, dies, or becomes incapacitated without having\neffectively designated a successor and the minor has attained the age of fourteen\n(14) years, the minor may designate as successor custodian, in the manner\nprescribed in subsection (2) of this section, an adult member of the minor's family, a\nconservator of the minor, or a trust company.  If the minor has not attained the age\nof fourteen (14 ) years or fails to act within sixty (60) days after the ineligibility,\ndeath, or incapacity, the conservator of the minor becomes successor custodian. If\nthe minor has no conservator or the conservator declines to act, the transferor, the\nlegal representative of the transferor or of the custodian, an adult member of the\nminor's family, or any other interested person may petition the court to designate a\nsuccessor custodian.\n(5) A custodian who declines to serve under subsection (1) of this section or resig ns\nunder subsection (3) of this section, or the legal representative of a deceased or\nincapacitated custodian, as soon as practicable, shall put the custodial property and\nrecords in the possession and control of the successor custodian. The successor\ncustodian by action may enforce the obligation to deliver custodial property and\nrecords and becomes responsible for each item as received.\n(6) A transferor, the legal representative of a transferor, an adult member of the minor's\nfamily, a guardian of the per son of the minor, the conservator of the minor, or the\nminor if the minor has attained the age of fourteen (14) years may petition the court\nto remove the custodian for cause and to designate a successor custodian other than\na transferor under KRS 385.042 or to require the custodian to give appropriate\nbond.","path":["KRS Chapter 385"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35815","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:15Z","sha256":"53c9ba872338f7cfc3d61e34b7b8fcd3c690d26218adbd21bc31d525fa223838","source_id":"us-ky","stale":false,"prev":"us-ky/krs-385.180","next":"us-ky/krs-385.190"},"notice":"GroundRules: Original legal text. Not legal advice."}