Title 75 Chapter 5a Section 107
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Utah Uniform Probate Code | |
Uniform Transfers to Minors Act | |
Section 107 | Other transfer by fiduciary. |
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75-5a-107. Other transfer by fiduciary.
(1) Subject to Subsection (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 Section 75-5a-110, in the absence of a will or under a will or trust that does not contain an authorization to do so. (2) Subject to Subsection (3), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to Section 75-5a-110. (3) A transfer under Subsection 75-5a-110(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. Enacted by Chapter 272, 1990 General Session | |
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