Other transfer by fiduciary
KRS 385.062
in effect385.062. Other transfer by fiduciary
(1) Subject to subsection (3) 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 KRS 385.092, 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) of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to KRS 385.092.
(3) A transfer under subsection (1) or (2) of this section 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 ten thousand dollars ($10,000) in value.
Effective: July 15, 1986
History: Created 1986 Ky. Acts ch. 182, sec. 6, effective July 15, 1986.
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35787Fetched: 10/20/2026