Pennsylvania Consolidated Statutes

20 Pa. Cons. Stat. § 5312 (2026)

Care of custodial property.

✓ current as of May 2026

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§ 5312. Care of custodial property.

(a) Duties of custodian.--A custodian shall:

(1) Take control of custodial property.

(2) Register or record title to custodial property if appropriate.

(3) Collect, hold, manage, invest and reinvest custodial property.

(b) Standard of care.--In dealing with custodial property, a custodian shall observe the standard of care that would be observed by a prudent person dealing with property of another and is not limited by any other statute restricting investments by fiduciaries. If a custodian has a special skill or expertise or is named custodian on the basis of representations of a special skill or expertise, the custodian shall use that skill or expertise. However, a custodian, in the custodian's discretion and without liability to the minor or the minor's estate, may retain any custodial property received from a transferor.

(c) Life insurance and endowment policies.--A custodian may invest in or pay premiums on life insurance or endowment policies on:

(1) the life of the minor only if the minor or the minor's estate is the sole beneficiary; or

(2) the life of another person in whom the minor has an insurable interest only to the extent that the minor, the minor's estate or the custodian in the capacity of custodian is the irrevocable beneficiary.

(d) Segregation of custodial property.--A custodian at all times shall keep custodial property separate and distinct from all other property in a manner sufficient to identify it clearly as custodial property of the minor. Custodial property consisting of an undivided interest is so identified if the minor's interest is held as a tenant in common and is fixed. Custodial property subject to recordation is so identified if it is recorded, and custodial property subject to registration is so identified if it is either registered or held in an account designated in the name of the custodian, followed in substance by the words: "as a custodian for (name of minor) under the Pennsylvania Uniform Transfers to Minors Act."

(e) Records.--A custodian shall keep records of all transactions with respect to custodial property, including information necessary for the preparation of the minor's tax returns, and shall make them available for inspection at reasonable intervals by a parent or legal representative of the minor or by the minor if the minor has attained 14 years of age.

Cross References. Section 5312 is referred to in section 5313 of this title.

Notes of Decisions

Cited in 2 cases, 2005–2011 · leading case: Sternlicht v. Sternlicht, 876 A.2d 904 (Pa. 2005).

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Sternlicht v. Sternlicht, 876 A.2d 904 (Pa. 2005). · cites it 2× “While a custodian holds, manages, invests, and dispenses the property during the child's minority, 20 Pa.C.S. § 5312(a), the custodian must deliver the property and proceeds, plus accumulated interest and profit, to the minor when the minor reaches the age of twenty-one.”

Harold C. Lampe, Jr V., 665 F.3d 506 (3rd Cir. 2011). · cites it 3× “fiduciary duties under the Pennsylvania Uniform Transfers to Minors Act, see 20 Pa. Cons. Stat. Ann. § 5312 (West 2011), it concluded that he did not breach those duties because, as it held with respect to Harold’s duties to WEL, he “exercised his right to obtain what he was…”

— 20 Pa. Cons. Stat. § 5312(a) — 1 case

Sternlicht v. Sternlicht, 876 A.2d 904 (Pa. 2005). “While a custodian holds, manages, invests, and dispenses the property during the child's minority, 20 Pa.C.S. § 5312(a), the custodian must deliver the property and proceeds, plus accumulated interest and profit, to the minor when the minor reaches the age of twenty-one.”

— 20 Pa. Cons. Stat. § 5312(b) — 1 case

Harold C. Lampe, Jr V., 665 F.3d 506 (3rd Cir. 2011). “fiduciary duties under the Pennsylvania Uniform Transfers to Minors Act, see 20 Pa. Cons. Stat. Ann. § 5312 (West 2011), it concluded that he did not breach those duties because, as it held with respect to Harold’s duties to WEL, he “exercised his right to obtain what he was…”

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