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2010 Florida Statutes

Title XL REAL AND PERSONAL PROPERTY
Chapter 710 TRANSFERS TO MINORS Entire Chapter
SECTION 107
Other transfer by fiduciary.
F.S. 710.107
710.107

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 pursuant to s. 710.111, 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 s. 710.111.

(3)

A transfer under subsection (1) or subsection (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.

History.
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s. 1, ch. 85-95.