54.864 Other transfer by fiduciary.
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/wi/chapter-54/54-864-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
54.864 Other transfer by fiduciary.
(1)Subject to sub.
(3), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor under s. 54.870 in the absence of a will or under a will or trust that does not contain an authorization to do so.
(2)Subject to sub.
(3), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor under s. 54.870 .
(3)A transfer under sub.
(1)or
(2)may be made only if:
(a)The personal representative, trustee or conservator considers the transfer to be in the best interest of the minor;
(b)The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument; and
(c)The transfer is authorized by the court if it exceeds $10,000 in value.