§ 18-13-1 - Definitions. - Rhode Island Statutes

SECTION 18-13-1

   § 18-13-1  Definitions. – As used in this chapter:

   (1) "Adult" means an individual who is at least eighteen (18)years of age.

   (2) "Beneficiary" means an individual for whom property hasbeen transferred to or held under a declaration of trust by a custodial trusteefor the individual's use and benefit under this chapter.

   (3) "Conservator" means a person appointed or qualified by acourt to manage the estate of an individual or a person legally authorized toperform substantially the same functions.

   (4) "Court" means the probate courts of this state.

   (5) "Custodial trust property" means an interest in propertytransferred to or held under a declaration of trust by a custodial trusteeunder this chapter and the income from and proceeds of that interest.

   (6) "Custodial trustee" means a person designated as trusteeof a custodial trust under this chapter or a substitute or successor to thedesignated person.

   (7) "Guardian" means a person appointed or qualified by acourt as a guardian of an individual, including a limited guardian, but not aperson who is only a guardian ad litem.

   (8) "Incapacitated" means lacking the ability to manageproperty and business affairs effectively by reason of mental illness, mentaldeficiency, physical illness or disability, chronic use of drugs, chronicintoxication, confinement, detention by a foreign power, disappearance,minority, or other disabling cause.

   (9) "Legal representative" means a personal representative orconservator.

   (10) "Member of the beneficiary's family" means abeneficiary's spouse, descendent, stepchild, parent, stepparent, grandparent,brother, sister, uncle, or aunt, whether of the whole or half blood or byadoption.

   (11) "Person" means an individual, corporation, businesstrust, estate, trust, partnership, joint venture, association, or any otherlegal or commercial entity.

   (12) "Personal representative" means an executor,administrator, or a special administrator of a decedent's estate, a personlegally authorized to perform substantially the same functions, or a successorto any of them.

   (13) "State" means a state, territory, or possession of theUnited States, the District of Columbia, or the Commonwealth of Puerto Rico.

   (14) "Transferor" means a person who creates a custodialtrust by transfer or declaration.

   (15) "Trust company" means a financial institution,corporation, or other legal entity, authorized to exercise general trust powers.