§ 3216.
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/vt/title-14/chapter-115/3216A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 3216. Other transfer by fiduciary
(a)Subject 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 3219 of this title, 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)of this section, a financial guardian may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor, pursuant to section 3219 of this title.
(c)A transfer under subsection
(a)or
(b)of this section may be made only if:
(1)the personal representative, trustee, or financial guardian 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 $10,000.00 in value. (Added 2015, No. 7, § 1.)