Current through codified legislation effective September 18, 2024
Section 21-306 - Other transfers by fiduciary(a) Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or to a trust company, as custodian, for the benefit of a minor pursuant to section 21-309, 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) of this section, a conservator may make an irrevocable transfer to another adult or to a trust company, as custodian, for the benefit of the minor pursuant to section 21-309.(c) A transfer under subsection (a) or (b) of this section may be made only if the following occur: (1) The personal representative, the trustee, or the conservator considers the transfer to be in the best interests of the minor;(2) The transfer is not prohibited by or inconsistent with the 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.Mar. 12, 1986, D.C. Law 6-87, § 2(a), 33 DCR 278.Uniform Law: This section is based upon § 6 of the Uniform Transfers to Minors Act.