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The Florida Statutes

The 2018 Florida Statutes

Title XL
REAL AND PERSONAL PROPERTY
Chapter 710
TRANSFERS TO MINORS
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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.s. 1, ch. 85-95.