Section 11.3 Not Exclusive Method of Transfer
| Library | Trusts and Powers 2013 Supp |
C. (§11.3) Not Exclusive Method of Transfer
The MTML is not the exclusive method of effecting a transfer of money or property to a minor. Liberty Nat’l Life Ins. Co. v. First Nat’l Bank of Birmingham, 151 So.2d 225 (Ala. 1963); § 404.081.2, RSMo 2000. A minor is a legal person and may own and hold any type of property. Kubatzky v. Ramada Inns, Inc., 632 S.W.2d 73 (Mo. App. E.D. 1982). Property may be given outright to a minor. Sections 362.465, 369.169, and 370.283, RSMo 2000, facilitate a minor’s use of a...
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