The UCTA was inspired by the Uniform Transfers to Minors Act, and the highly useful concept of a custodian for property of a minor under the terms of that act. There are many reasons why every state should consider and adopt the Uniform Custodial Trust Act. A custodial trust is inexpensive to create. In addition, the UCTA provides an alternative to a costly court-supervised conservator or guardian. It can be used to avoid the costs and delays of probate proceedings at death.
Economies can accrue broadly with the use of custodial trusts.
A custodial trust can be set up by simple language referenc-ing the statute. No elaborate trust document is necessary. Rights and obligation are derived directly from the statute. Any person who creates a custodial trust retains complete control over it until incapacity or death. The named trustee manages the property in the case of incapacity, but until then, control remains with the beneficiary - the creator of the trust.