Jurisdiction for transfers to minors and custodianship to be probate division of circuit court, procedure — appointment of guardian or conservator, court may specify duties

1. The probate division of the circuit court may hear and determine all matters pertaining to custodians for minors and the administration of minor custodianships under sections 404.005 to 404.094 of this act*, the uniform gifts to minors law and the uniform transfers to minors law. 2. The provisions of chapter 472 apply to judicial proceedings involving minor custodianships to the extent they apply to judicial proceedings involving trusts and are not inconsistent with sections 404.005 to 404.094 of this act*. 3. If the probate division of the circuit court appoints a guardian or conservator for a minor after notice and hearing, the court may specify in an order the duties and responsibilities of the minor's legal representatives and custodians and the manner in which they shall coordinate the exercise of their respective powers and duties for and on behalf of the minor. 4. Upon the filing of any petition as provided in sections 404.005 to 404.094 of this act*, the court shall issue an order directed to such persons and returnable on such notice as the court may require, to show cause why the relief prayed for in the petition should not be granted and, in due course, shall proceed to grant such relief as the court finds to be in the best interest of the minor beneficiary of the custodianship.