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District of Columbia Code Division III. Decedents' Estates and Fiduciary Relations. § 21-306. Other transfers by fiduciary.

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - District of Columbia Code Division III. Decedents' Estates and Fiduciary Relations. § 21-306. Other transfers by fiduciary. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-iii-decedents-estates-and-fiduciary-relations/dc-code-sect-21-306/

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