14-7656. Other transfer by fiduciary
A. Pursuant to subsection C of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to section 14-7659 in the absence of a will or under a will or trust that does not contain an authorization to do so.
B. Pursuant to subsection C of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to section 14-7659.
C. A transfer pursuant to subsection A or B of this section may be made only if all of the following apply:
1. The personal representative, trustee or conservator considers the transfer to be in the best interest of the minor.
2. The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument.
3. The transfer is authorized by the court if it exceeds ten thousand dollars in value.
Section: Previous 14-7511 14-7512 14-7651 14-7652 14-7653 14-7654 14-7655 14-7656 14-7657 14-7658 14-7659 14-7660 14-7661 14-7662 14-7663 NextLast modified: October 13, 2016