Designation of Successor Custodian under Ohio UTMA

Often there are funds of a beneficiary (generally a person under 21 and referred to as a “minor” for purposed of this Act) which are being held by a custodian in an account or investment established by a donor/transferor under the Ohio Uniform Transfers to Minors Act (RC Chapter 5814).  If a custodian resigns, becomes incompetent, or dies without a successor having been named by the donor/transferor or by the custodian, and there is no legal representative (defined as being an executor, administrator, conservator of estate, or guardian of estate) of the donor or custodian willing to designate a successor custodian, then a Petition may be filed with the Probate Court requesting the designation of a successor custodian. The Petitioner may be the donor/transferor, the resigning custodian, a legal representative of the donor/transferor, a member of the beneficiary’s family (defined as a parent, step-parent, spouse, grandparent, aunt or uncle of the beneficiary), or the beneficiary who is at least 14 year of age. The Petitioner may suggest the name of a suitable successor; however, the appointment is within the Court’s discretion.

Upon receiving the Petition, the Court will conduct a background records check of the proposed successor Custodian prior to making an appointment.  Additionally, before making an appointment, the Court requires the successor to agree to the appointment and to acknowledge the resulting responsibilities.  The Court may give notice to the beneficiary and conduct a hearing before designating a successor Custodian.

Items Necessary for Appointment of Successor Custodian:

  1. The Petition;
  2.  If a potential successor is suggested by the Petitioner, then the Petition must be accompanied by successor’s Custodian’s Acceptance, Record Check Authorization, and Non-Public Record – Social Security Information;
  3. Photocopy of the proposed successor Custodian’s current government issued photo ID; and
  4. Court Cost Deposit: If within an open estate or guardianship file – $5.00; or If through an independent miscellaneous case – $58.00.

The forms are shown at the right of this page.

UTMA Successor Custodian Forms