Delaware § 4506 - Other transfer by fiduciary.
Full text of Delaware Delaware Code § 4506 — Other transfer by fiduciary., with citation guidance and answers to common questions.
§ 4506. 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 § 4509 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 guardian may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to § 4509 of this title.
(c) A transfer under subsection (a) or (b) of this section may be made if:
(1) The personal representative, trustee or guardian considers the transfer to be in the best interest of the minor, which shall be presumed in the absence of contrary facts actually known to the personal representative, trustee or guardian;
(2) The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument; and
(3) If the property exceeds $50,000 in value, the custodian designated by the personal representative, trustee or guardian is approved by the Court.
(d) If a transfer is made in conformity with the preceding provisions of this section and § 4509 of this title, the personal representative, trustee or guardian making the transfer shall have no liability to the minor therefor, including any obligation to see to the application of the proceeds of such transfer.
70 Del. Laws, c. 393, § 1; 71 Del. Laws, c. 196, §§ 3-5;Frequently Asked Questions About Delaware § 4506
What does Delaware Code § 4506 cover?
Section 4506 ("Other transfer by fiduciary.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 4506?
A common citation format is "Delaware Code § 4506" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 4506 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.