§ 38-1707 — Other transfer by fiduciary

(a) Subject to subsection (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 K.S.A. 38-1710, and amendments thereto, 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), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to K.S.A. 38-1710, and amendments thereto.
(c) A transfer under subsection (a) or (b) may be made only if:
(1) The personal representative, trustee or conservator considers the transfer to be in the best interest of the minor;
(2) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument; and
(3) the transfer is authorized by the court if such transfer exceeds $25,000 in value.

Legislative History

L. 1985, ch. 143, § 6; L. 2023, ch. 65, § 2; July 1.