34-13-138. Changing the time for transfer of custodial property.

(a) Subject to the requirements and limitations of this section, the time for transfer to the minor of custodial property transferred under W.S. 34-13-116 through 34-13-119 may be changed to a specified time other than the minor's attainment of twenty-one (21) years of age, which time shall be specified in the transfer pursuant to W.S. 34-13-122.

(b) To specify a changed time for transfer to the minor of the custodial property, the words "as custodian for .... (name of minor) until age .... (age for delivery of property to minor) under the Wyoming Uniform Transfers to Minors Act" shall be substituted in substance for the words "as custodian for .... (name of minor) under the Wyoming Uniform Transfers to Minors Act" in making the transfer pursuant to W.S. 34-13-122.

(c) The time for transfer to the minor of custodial property transferred under or pursuant to W.S. 34-13-116 or 34-13-118 may be changed under this section only if the governing will, trust or nomination provides in substance that the custodianship is to continue until the minor's attainment of a specified age, which time shall not be later than the minor's attainment of thirty (30) years of age, and in that case the governing will, trust or nomination shall determine the time to be specified in the transfer pursuant to W.S. 34-13-122.

(d) The time for transfer to the minor of custodial property transferred by irrevocable gift or the irrevocable exercise of a power of appointment under W.S. 34-13-117 may be changed under this section only if the transfer pursuant to W.S. 34-13-122 provides in substance that the custodianship is to continue until the minor's attainment of a specified age, which time shall not be later than the minor's attainment of thirty (30) years of age.

(e) The time for transfer to the minor of custodial property transferred by a trustee under W.S. 34-13-119 may be changed under this section only if the transfer pursuant to W.S. 34-13-122 provides that the custodianship is to continue until a specified time not later than the earlier of:

(i) The minor's attainment of thirty (30) years of age;

(ii) The time of termination of all present beneficial interests of the minor in the trust from which the custodial property was transferred.

(f) If the transfer pursuant to W.S. 34-13-122 does not specify any age, the time for the transfer of the custodial property to the minor under W.S. 34-13-133 is the time when the minor attains twenty-one (21) years of age.

(g) If the transfer pursuant to W.S. 34-13-122 provides in substance that the duration of the custodianship is for a time longer than the maximum time permitted by this section for the duration of a custodianship created by that type of transfer, the custodianship shall be deemed to continue only until the minor's attainment of the maximum age permitted by this section for the duration of a custodianship created by that type of transfer.