2006 New York Code - Other Transfer By Fiduciary

 
  § 7-6.6 Other transfer by fiduciary
    (a) Subject to paragraph (c), 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 7-6.9, in  the  absence
  of  a  will  or  under  a  will  or  trust  that  does  not  contain  an
  authorization to do so.
    (b) Subject to paragraph (c),  a  guardian  may  make  an  irrevocable
  transfer  to another adult or trust company as custodian for the benefit
  of the minor pursuant to 7-6.9.
    (c) A transfer under paragraph (a) or (b) may be made only if (i)  the
  personal  representative, trustee, or guardian considers the transfer to
  be in the  best  interest  of  the  minor,  (ii)  the  transfer  is  not
  prohibited  by  or  inconsistent with provisions of the applicable will,
  trust agreement,  or  other  governing  instrument,  and  (iii)  if  the
  personal representative is acting in the absence of a will, the transfer
  is  authorized  by  the  court  if  it exceeds fifty thousand dollars in
  value.