[§553A-6] Other transfer by fiduciary.
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/hi/553a-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§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.