MI HB6512

Increases the threshold for court authorization of transfers to minors from $10,000 to $50,000 in Section 10 (personal representatives, trustees, and conservators).

Increases the threshold for court authorization of transfers to minors from $10,000 to $50,000 in Section 11 (persons holding property or owing liquidated debts to minors).

Replaces "pursuant to" with "under" throughout the sections for clearer language referencing Section 13.

Changes "shall" to "must" for mandatory language consistency regarding custodian transfers when a custodian has been nominated.

Clarifies that transfers must satisfy three conditions: be in the minor's best interest, not be prohibited by governing instruments, and be court-authorized if exceeding the $50,000 threshold.