Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
527.26 OTHER TRANSFER BY FIDUCIARY.
(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.
History: 1985 c 221 s 6
(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.
History: 1985 c 221 s 6
Official Publication of the State of Minnesota
Revisor of Statutes