54.864 Other transfer by fiduciary. (1) Subject to sub. (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 under s. 54.870 in the absence of a will or under a will or trust that does not contain an authorization to do so.(2) Subject to sub. (3), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor under s. 54.870.(3) A transfer under sub. (1) or (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: 1987 a. 191; 2005 a. 387 s. 532; Stats. 2005 s. 54.864.
Wisconsin Legal Code