[§553A-6] Other transfer by fiduciary. (a) Subject to subsection (c), 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 553A-9, in the absence of a will or under a will or trust that does not contain an authorization to do so.
(b) Subject to subsection (c), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to section 553A-9.
(c) A transfer under subsection (a) or (b) may be made only if:
(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; and
(3) The transfer is authorized by the court if it exceeds $10,000 in value. [L 1985, c 91, pt of §1]
Rules of Court
Transfers, see HPR rule 111.
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