The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 14 : Decedents Estates and Fiduciary Relations
Chapter 115 : Vermont Uniform Transfers to Minors Act
(Cite as: 14 V.S.A. § 3216)-
§ 3216. Other transfer by fiduciary
(a) Subject to subsection (c) of this section, 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 section 3219 of this title, 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 financial guardian may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor, pursuant to section 3219 of this title.
(c) A transfer under subsection (a) or (b) of this section may be made only if:
(1) the personal representative, trustee, or financial guardian 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 it exceeds $10,000.00 in value. (Added 2015, No. 7, § 1.)
