1. 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 the provisions of this chapter, in the absence of a will or under a will or trust that does not contain an authorization to do so.
2. A conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to the provisions of this chapter.
3. A transfer made pursuant to 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 the 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.