[§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.