(a) Subject to paragraph (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 527.29, in the absence of a will or under a will or trust that does not contain an authorization to do so.
(b) Subject to paragraph (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 527.29.
(c) A transfer under paragraph (a) or (b) may be made only if (i) the personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor, (ii) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument, and (iii) the transfer is authorized by the court if it exceeds $10,000 in value.
1985 c 221 s 6
Structure Minnesota Statutes
Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts
Chapter 527 — Uniform Transfers To Minors Act
Section 527.22 — Scope And Jurisdiction.
Section 527.23 — Nomination Of Custodian.
Section 527.24 — Transfer By Gift Or Exercise Of Power Of Appointment.
Section 527.25 — Transfer Authorized By Will Or Trust.
Section 527.26 — Other Transfer By Fiduciary.
Section 527.27 — Transfer By Obligor.
Section 527.28 — Receipt For Custodial Property.
Section 527.30 — Single Custodianship.
Section 527.31 — Validity And Effect Of Transfer.
Section 527.32 — Care Of Custodial Property.
Section 527.33 — Powers Of Custodian.
Section 527.34 — Use Of Custodial Property.
Section 527.35 — Custodian's Expenses, Compensation, And Bond.
Section 527.36 — Exemption Of Third Person From Liability.
Section 527.37 — Liability To Third Persons.
Section 527.39 — Accounting By And Determination Of Liability Of Custodian.
Section 527.40 — Transfer Upon Termination Of Custodianship.
Section 527.405 — Conveyance By Custodian.
Section 527.41 — Applicability.
Section 527.42 — Effect On Existing Custodianships.