Mo. Rev. Stat. ch. 456

in effect

Mo. Rev. Stat. § 456.001 Bequests or transfer to spouse, valuation of.

456.001. Bequests or transfer to spouse, valuation of. — 1. If an instrument providing for a pecuniary bequest or transfer to or for the benefit of the spouse of the testator or transferor requires or permits the satisfaction of such bequest or transfer wholly or partly by the distribution of property valued at some date or on some basis other than its fair market value at the time of distribution, and does not require that such bequest or transfer be satisfied by the distribution of assets, including cash, having an aggregate fair market value on the date or dates of distribution amounting to no less than the amount of such bequest or transfer, then in such case, the provisions of the instrument notwithstanding, any property distributed in satisfaction of such bequest or transfer shall have an aggregate fair market value on the date of distribution fairly reflecting the distributee's proportionate share of the appreciation or depreciation in value to the date of distribution of all property then available for distribution. 2. If, in any instrument which provides for a pecuniary bequest or transfer, the personal representative or trustee is empowered to satisfy such bequest or transfer by distribution of property in kind, and the instrument is silent as to the value to be given to property distributed in kind, any property distributed in satisfaction of the bequest or transfer shall be valued at the fair market value thereof on the date of distribution. 3. The phrase "pecuniary bequest or transfer" , as used in this section, means a bequest or transfer either in a stated amount or in an amount determined by the use of a formula. 4. This section shall be effective with respect to wills and revocable inter vivos trusts executed or created before or after October 13, 1969, by persons who die on or after said date, and to irrevocable inter vivos trusts which are created on or after October 13, 1969. (L. 1969 S.B. 90 §§ 1, 2, 3, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.015

Mo. Rev. Stat. § 456.003 Absence of active duties not to curtail powers of trustee.

456.003. Absence of active duties not to curtail powers of trustee. — When the terms of an instrument creating a trust manifest intention that the trustee shall have the legal fee simple in land, the full legal ownership of an estate for years, or the absolute legal ownership of chattels personal, investment securities or choses in action, an exercise by the trustee or a successor trustee of an express or implied power of sale, mortgage, leasing, improvement or conducting any other transaction incident to the administration of the trust, shall bind the fee simple, term of years or absolute ownership notwithstanding the execution of a future interest under the trust into a legal estate or interest by the operation of the Statute of Uses, or former section 456.003 , or a judicial doctrine imposing such execution on dry or passive trusts. (RSMo 1939 § 3493, A.L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Prior revisions: 1929 § 3103; 1919 § 2262; 1909 § 2867 Transferred 2004; formerly 456.020

Mo. Rev. Stat. § 456.005 Life insurance trusts.

456.005. Life insurance trusts. — Proceeds of life insurance policies heretofore made payable to a trustee or trustees named as beneficiary or hereafter to be named beneficiary under an inter vivos trust shall be paid directly to the trustee or trustees and held and disposed of by the trustee or trustees as provided in the trust agreement or declaration of trust in writing made and in existence on the date of death of the insured, whether or not such trust or declaration of trust is amendable or revocable or both, or whether it may have been amended, and notwithstanding the reservation of any or all rights of ownership under the insurance policy or annuity contract; subject, however, to a valid assignment of any part of the proceeds. It is not necessary to the validity of such trust agreement or declaration of trust that it be funded or have a corpus other than the right, which need not be irrevocable, of the trustee or trustees named therein to receive such proceeds as beneficiary. A policy of life insurance or annuity contract may designate as beneficiary a trustee or trustees named or to be named by will if the designation is made in accordance with the provisions of the policy or contract whether or not the will is in existence at the time of the designation. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.030.

Mo. Rev. Stat. § 456.006 Health savings account, trust may be created, when.

456.006. Health savings account, trust may be created, when. — 1. Where a trust or custodial account constitutes a health savings account, as defined under 26 U.S.C. Section 223(d)(1) * , a trust may be created by any of the following: (1) A transfer of moneys to the trustee or custodian holding such trust or custodial account; (2) The documentation of the creation of such trust or custodial account in the records of the trustee or custodian holding such trust or custodial account; or (3) The execution of a trust or custodial agreement with respect to such trust or custodial account. 2. In any case, a trust or custodial account shall be deemed to have been established on the first day on which the individual who is the beneficiary of such trust or custodial account is an eligible individual, as defined under 26 U.S.C. Section 223(c)(1), in that calendar year in which such trust or custodial account is created in accordance with this section. (L. 2018 H.B. 1250) *Section "223(c)(1)" appears in original rolls, which is an incorrect reference.

Mo. Rev. Stat. § 456.007 Lessor, trustee of deposits by lessee, when - exception.

456.007. Lessor, trustee of deposits by lessee, when — exception. — 1. Whenever any person, firm or corporation, engaged in the leasing of personal property, shall require a deposit or advance payment to be made by the lessee to bind the lessee to the performance of such contract, then such money so deposited, with any accruing interest thereon, shall, until returned or applied in accordance with the terms of such contract or agreement, continue to be the money of the person making the deposit and shall become and remain a trust fund in the possession of the person with whom such deposit shall be made, and the person, firm or corporation, receiving such deposit shall be the holder of such fund as trustee, and as the trustee as herein defined shall forthwith, and within seven days after the receipt of such trust fund, deposit the same in some bank or trust company in the county in which the cestui que trust shall reside or have his principal office or place of business, and such fund shall not be mingled with any other funds or assets of such trustee. Any person, firm or corporation receiving any money in trust, as herein defined, who shall violate any of the provisions of this section shall be deemed guilty of a misdemeanor; provided, however, that this section and section 456.009 shall not apply to such transactions where the property used or leased is delivered to lessee at time of agreement and remains in the actual and continuous possession of lessee during the term of such agreement. 2. Subsection 1 of this section shall not apply to any lease entered into by lessors which are banks, trust companies, savings and loan associations, savings banks and credit unions, their subsidiaries and affiliates, or to any other financial institutions as defined in subdivision (4) of section 381.410 , or to other lessors in commercial lease transactions of at least twenty-five thousand dollars. (RSMo 1939 § 3540, A.L. 1999 S.B. 386, A.L. 2004 H.B. 1511) Prior revision: 1929 § 3150 Transferred 2004; formerly 456.040

Mo. Rev. Stat. § 456.009 Lessor liable for double amount of deposit so held in trust, when.

456.009. Lessor liable for double amount of deposit so held in trust, when. — Any person, firm or corporation being a trustee, as provided in section 456.007 , who shall violate any of the provisions thereof, shall pay to the depositor a sum of money double the amount of the deposit or advance payment, which may be recovered in any court of competent jurisdiction, together with a reasonable attorney's fee to be fixed by the court and collected as other costs in the case. Any waiver or attempt to waive the provisions of section 456.007 and this section shall be void. (RSMo 1939 § 3541, A.L. 2004 H.B. 1511) Prior revision: 1929 § 3151 Transferred 2004; formerly 456.050

Mo. Rev. Stat. § 456.011 Trusts for benefit of employees or self-employed persons - perpetuities - ...

456.011. Trusts for benefit of employees or self-employed persons — perpetuities — suspension of alienation. — A trust of real or personal property, or both, created as part of a stock bonus plan, pension plan, disability or death benefit plan, medical benefit plan, profit-sharing plan or retirement plan, for the exclusive benefit of employees or self-employed persons, to which contributions are made by an employer, or employees, or both, or by self-employed persons, for the purpose of distributing to such employees or self-employed persons the earnings or the principal, or both earnings and principal of the fund so held in trust, shall not be deemed to be invalid as violating any existing laws against perpetuities or suspension of the power of alienation of title to property; but such a trust may continue for such time as may be necessary to accomplish the purposes for which it may be created. (L. 1941 p. 716 § 3541-A, A.L. 1957 p. 868, A.L. 1959 S.B. 270, A.L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.060

Mo. Rev. Stat. § 456.013 Trusts for benefit of employees or self-employed persons - accumulation.

456.013. Trusts for benefit of employees or self-employed persons — accumulation. — The income arising from any property held in a trust created as part of a stock bonus plan, pension plan, disability or death benefit plan, medical benefit plan, profit-sharing plan or retirement plan for the exclusive benefit of employees or self-employed persons to which contributions are made by an employer or employees, or both, or by self-employed persons, for the purpose of distributing in accordance with such plan to such employees or self-employed persons the earnings or the principal or both earnings and principal of the trust fund, may be permitted to accumulate until the fund shall be sufficient to accomplish the purposes of such plan. (L. 1941 p. 716 § 3541-B, A.L. 1957 p. 868, A.L. 1959 S.B. 270, A.L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.070.

Mo. Rev. Stat. § 456.014 Trust for benefit of employees - spendthrift trust, when - exempt from ...

456.014. Trust for benefit of employees — spendthrift trust, when — exempt from certain attachments, exception. — A trust created as part of a stock bonus plan, nonpublic pension plan, disability or death benefit plan, profit-sharing plan, or retirement plan, for the exclusive benefit of employees to which contributions are made by an employer, or participant, or both, for the purpose of distributing to such participant the earnings or the principal, or both earnings and principal of the fund so held in trust, shall be deemed to be a spendthrift trust if the plan or trust includes a provision restraining the assignment, alienation, or other voluntary or involuntary transfer of the interest of a participant in the trust. Prior to payment or delivery thereof to such participant by the plan trustee, such an interest of the participant shall be exempt from attachment or execution under the laws of this state, and such provision restraining the assignment, alienation, or other voluntary or involuntary transfer of the interest of a participant in the trust shall preclude any creditor of the participant from satisfying a claim from the assets or property of such a plan or trust before payment or delivery of such interest to the participant by the plan trustee, provided that the interest of any such participant shall be subject to attachment or execution pursuant to a qualified domestic relations order, as defined by Section 414(p) of the federal Internal Revenue Code, as amended, issued by a court in any proceeding for dissolution of marriage or legal separation or a proceeding for disposition of property following dissolution of marriage by a court which lacked personal jurisdiction over the absent spouse or lacked jurisdiction to dispose of marital property at the time of the original judgment of dissolution. (L. 1992 S.B. 447, A.L. 2004 H.B. 1511 § 456.015) Transferred 2004; formerly 456.072

Mo. Rev. Stat. § 456.017 Applicability of sections 456.011, 456.013, and 456.014.

456.017. Applicability of sections 456.011, 456.013, and 456.014. — The provisions of sections 456.011 , 456.013 , and 456.014 shall apply to every trust of the kind described in such sections hereafter created or heretofore created or attempted to be created as if such sections had been effective on and after the date of the creation, or attempted creation, of each such trust. (L. 1957 p. 868, A.L. 1992 S.B. 447, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.075

Mo. Rev. Stat. § 456.019 Trustees of private foundations, charitable trusts or split-interest ...

456.019. Trustees of private foundations, charitable trusts or split-interest trusts, certain acts prohibited. — 1. In the administration of any trust which is a "private foundation", as defined in Section 509 of the United States Internal Revenue Code, a "charitable trust", as defined in Section 4947(a)(1) of the United States Internal Revenue Code, or a "split-interest trust", as defined in Section 4947(a)(2) of the United States Internal Revenue Code, the following acts shall be prohibited: (1) Engaging in any act of "self-dealing", as defined in Section 4941(d) of the United States Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4941(a) of the United States Internal Revenue Code; (2) Retaining any "excess business holdings", as defined in Section 4943(c) of the United States Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4943(a) of the United States Internal Revenue Code; (3) Making any investments which would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of Section 4944 of the United States Internal Revenue Code, so as to give rise to any liability for the tax imposed by Section 4944(a) of the United States Internal Revenue Code; and (4) Making any "taxable expenditures", as defined in Section 4945(d) of the United States Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4945(a) of the United States Internal Revenue Code; provided, however, that this section shall not apply either to those split-interest trusts or to amounts thereof which are not subject to the prohibitions applicable to private foundations by reason of the provisions of Section 4947 of the United States Internal Revenue Code. 2. In the administration of any trust which is a "private foundation", as defined in Section 509 of the United States Internal Revenue Code, or which is a "charitable trust", as defined in Section 4947(a)(1) of the United States Internal Revenue Code, there shall be distributed, for the purposes specified in the trust instrument, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by Section 4942(a) of the United States Internal Revenue Code. 3. The provisions of subsections 1 and 2 of this section shall not apply to any trust to the extent that a court of competent jurisdiction shall determine that such application would be contrary to the terms of the instrument governing such trust and that the same may not properly be changed to conform to such sections. The trustee shall not be held liable to anyone for any payments made under subsection 2 prior to such determination. 4. Nothing in this section shall impair the rights and powers of the courts or the attorney general of this state with respect to any trust. 5. All references to sections of the United States Internal Revenue Code shall be to such law as of June 14, 1971. (L. 1971 S.B. 47, A.L. 2004 H.B. 1511) Effective 6-14-71 Transferred 2004; formerly 456.230

Mo. Rev. Stat. § 456.021 Addition to trusts.

456.021. Addition to trusts. — A devise or other transfer, the validity of which is determinable by the law of this state, may be made by a will or other instrument of transfer, including a designation of beneficiary under a life insurance policy, to the trustee or trustees of a trust established or to be established by the testator or transferor or by the testator or transferor and some other person or persons or by some other person or persons, including a funded or unfunded life insurance trust, although the settlor thereof has reserved any or all rights of ownership of the insurance contracts, if the trust is identified in the testator's will or the instrument of transfer and its terms are set forth in a written instrument. The devise or transfer shall not be invalid because the trust is amendable or revocable, or both, or because the trust was amended after the execution of the will, the delivery of the instrument of transfer, or the death of the testator. Notwithstanding whether a devise or transfer is made before or after August 28, 1996, a devise or transfer is valid if the devise or transfer is made only to the name of the trust or if the devise or transfer is made to the name or names of the trustee or trustees as the trustee or trustees of the trust. Unless the testator's will or the instrument of transfer provides otherwise, the property so devised: (1) Shall not be deemed to be held under a testamentary trust of the testator or transferor but shall become a part of the trust to which it is given; and (2) Shall be administered and disposed of in accordance with the provisions of the instrument or will setting forth the terms of the trust, including any amendments thereto made before the death of the testator or transferor, regardless of whether made before or after the execution of the testator's will or the delivery of the instrument of transfer, and, if the testator's will or the instrument of transfer so provides, including any amendments to the trust made after the death of the testator or transferor. A revocation or termination of the trust before the death of the testator shall cause a devise to the trustees of that trust to lapse. (L. 1983 H.B. 117, A.L. 1996 H.B. 941, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.232

Mo. Rev. Stat. § 456.025 Inapplicability of the rule against perpetuities - rule prohibiting ...

456.025. Inapplicability of the rule against perpetuities — rule prohibiting unreasonable restraints or suspension of power of alienation not violated, when — rule against accumulations not applicable, when. — 1. The rule against perpetuities shall not apply to and any rule prohibiting unreasonable restraints on or suspension of the power of alienation shall not be violated by a trust if a trustee, or other person or persons to whom the power is properly granted or delegated, has the power pursuant to the terms of the trust or applicable law to sell the trust property during the period of time the trust continues beyond the period of the rule against perpetuities that would apply to the trust but for this subsection. 2. No rule against accumulations shall apply to a trust described in subsection 1 of this section unless the terms of the trust require that the income be accumulated during a period of time the trust continues beyond the period of the rule against perpetuities that would apply to the trust but for subsection 1 of this section. If the terms of the trust require that the income be accumulated during any period of time the trust continues beyond the period of the rule against perpetuities that would apply to the trust but for subsection 1 of this section, then during that period of time the trustee shall have the power to make discretionary distributions of net income to such recipients and in such shares and in such manner as most closely effectuates the settlor's or testator's manifested plan of distribution. 3. The provisions of this section apply to: (1) Any trust created by a will or inter vivos agreement, or pursuant to the exercise of a power of appointment other than a general power of appointment granted under a will or inter vivos agreement, executed or amended on or after August 28, 2001; (2) Any trust created pursuant to the exercise of a general power of appointment exercised in an instrument executed or amended on or after August 28, 2001; or (3) Any trust created by a will or inter vivos agreement, or pursuant to the exercise of a power of appointment granted under a will or inter vivos agreement, executed or amended before August 28, 2001, if the laws of this state become applicable to the trust after such date, the laws of any other state applied to the trust before such date, and the rule against perpetuities did not apply to the trust pursuant to the laws of the other state. 4. As used in this section, the term "trust" means an express trust created by a trust instrument, including a will, whereby a trustee has the duty to administer a trust asset for the benefit of a named or otherwise described income or principal beneficiary, or both. The term "trust" does not include a resulting or constructive trust, a business trust which provides for certificates to be issued to the beneficiary, an investment trust, a voting trust, a security instrument, a trust created by the judgment or decree of a court, a liquidation trust, or a trust for the primary purpose of paying dividends, interests, interest coupons, salaries, wages, pensions, or profits, or employee benefits of any kind, an instrument wherein a person is nominee or escrowee for another, a trust created in deposits in any financial institution, a trust that is not subject to the rule against perpetuities by reason of any other law of this state, or any other trust the nature of which does not admit of general trust administration. (L. 2001 H.B. 241, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.236

Mo. Rev. Stat. § 456.026 Rule against perpetuities, trust subject to, when.

456.026. Rule against perpetuities, trust subject to, when. — For purposes of determining whether a trust that is subject to the rule against perpetuities violates said rule, if there is only one beneficiary of the trust who is entitled or eligible to receive distributions of income or principal from the trust, such beneficiary holds a general power of appointment over the trust, and no other person has a power to appoint any part of the trust to anyone other than the beneficiary, then the beneficiary has a vested interest in the trust, regardless of whether such general power is presently exercisable or is exercisable only at the powerholder's death. (L. 2022 S.B. 886)

Mo. Rev. Stat. § 456.027 Registration of trust.

456.027. Registration of trust. — 1. The trustee of a trust having its principal place of administration in this state may register the trust in the probate division of the circuit court of the county wherein the principal place of administration is located. 2. "Trust" includes any express trust, private or charitable, with additions thereto, wherever and however created. It also includes a resulting or constructive trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust."Trust" excludes other constructive and resulting trusts, guardianships, conservatorships, decedents' estates, and trust accounts with financial institutions in the name of one or more parties as trustee for one or more beneficiaries where the fiduciary relationship is established by the form of the account and the deposit agreement with the financial institution, and there is no subject of the trust other than the sums on deposit in such account. "Trust" also excludes custodial arrangements pursuant to chapter 404 , the Missouri uniform gifts to minors law, paying and transfer agencies, business trusts providing for certificates to be issued to beneficiaries, investment trusts, common trust funds, voting trusts, security instruments or arrangements, liquidation trusts, trusts for the primary purpose of paying debts, dividends, interest, salaries, wages, profits, pensions or employee benefits of any kind, and any arrangements under which a person is nominee or escrowee for another. 3. Unless otherwise designated in the trust instrument, the "principal place of administration of a trust" is the trustee's usual place of business where the records pertaining to the trust are kept, or at the trustee's residence if he has no such place of business. In the case of cotrustees, the principal place of administration, if not otherwise designated in the trust instrument, is: (1) The usual place of business of the corporate trustee if there is but one corporate cotrustee; or (2) The usual place of business or residence of the individual trustee who is a professional fiduciary if there is but one such person and no corporate cotrustee; and otherwise (3) The usual place of business or residence of any of the cotrustees as agreed upon by them. 4. "Professional fiduciary" means an individual trustee who represents himself to the public as having specialized training, experience or skills in the administration of trusts. 5. The right to register under this section does not apply to the trustee of a trust if registration would be inconsistent with the retained jurisdiction of a foreign court from which the trustee cannot obtain release of registration. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.400

Mo. Rev. Stat. § 456.029 Registration procedure.

456.029. Registration procedure. — Such registration shall be accomplished by filing a statement, indicating the name and address of the trustee and acknowledging the trusteeship. The statement shall indicate whether the trust has been registered elsewhere and shall identify the trust: (1) In the case of a testamentary trust, by the name of the testator and the date and place of domiciliary probate; (2) In the case of a written inter vivos trust, by the name of each settlor and the original trustee and the date of the trust instrument; or (3) In the case of an oral trust, by information identifying the settlor or other source of funds and describing the time and manner of the trust's creation and the terms of the trust, including the subject matter, beneficiaries and time of performance. A registration may be withdrawn by a similar statement. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.410

Mo. Rev. Stat. § 456.031 Records and certified copies.

456.031. Records and certified copies. — The clerk of the probate division of the circuit court shall keep a record for each trust so registered, including trust registration statements, petitions and applications, demands for notices or bonds, and of any orders or responses relating thereto by the court, and establish and maintain a system for indexing, filing or recording which is sufficient to enable users of the records to identify and obtain information about such registered trusts. Upon payment of the fees required by law the clerk must issue certified copies of any record or paper filed or recorded. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.420

Mo. Rev. Stat. § 456.033 Effect of registration.

456.033. Effect of registration. — 1. By registering a trust, or accepting the trusteeship of a registered trust, the trustee submits personally to the jurisdiction of the court in any proceeding involving the internal affairs of the trust that may be initiated by any interested person while the trust remains registered. Notice of any such proceeding shall be delivered to the trustee or mailed to him by ordinary first-class mail at his address as listed in the registration statement or as thereafter reported to the court and to his address as then known to the petitioner. 2. To the extent of their interests in the trust, all beneficiaries of a trust registered in this state are subject to the jurisdiction of the court of registration for the purposes of proceedings involving internal affairs of the trust, provided notice is given pursuant to section 472.100 . 3. "Interested persons" include beneficiaries and any others having a property right in or claim against a trust estate which may be affected by a judicial proceeding. It also includes persons and other fiduciaries representing interested persons. The meaning as it relates to particular persons may vary from time to time and must be determined according to the particular purposes of, and matter involved in, any proceeding. 4. "Internal affairs" proceedings, without limitation, are those which involve interpretation or construction of the terms of the trust by declarations, instructions or judgments as to the existence, nonexistence and extent of rights, powers, privileges, immunities, duties, liabilities and remedies of trustees and beneficiaries in the administration and distribution of trusts, including but not limited to proceedings concerning: (1) The qualifications, appointment, removal, indemnification, reimbursement, exoneration or surcharge of trustees; (2) The imposition, change and release of requirements for trustees' bonds; (3) The employment of agents and compensation to them and to trustees; (4) The review and settlement of interim and final accounts; (5) The propriety of investments or of principal and income allocations; (6) The allowance of deviations from or modifications of trust terms; (7) The ascertainment of beneficiaries or of beneficial interests; (8) The requirements for release of registration or change of principal place of administration; (9) The timing and quantity of distributions and dispositions of assets; (10) The validity and effect of alienations by beneficiaries, by exercise of powers of appointment or otherwise; and (11) Terminations of trusts. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.430

Mo. Rev. Stat. § 456.035 Evidence as to death or status - five-year absence presumption of death.

456.035. Evidence as to death or status — five-year absence presumption of death. — 1. A certified or authenticated copy of a death certificate purporting to be issued by an official or agency of the place where the death purportedly occurred is prima facie proof of the fact, place, date and time of death and the identity of the deceased settlor, trustee, beneficiary or other interested person. 2. A certified or authenticated copy of any record or report of a governmental agency, domestic or foreign, that a person is missing, detained, dead, or alive is prima facie evidence of the status and of the dates, circumstances and places disclosed by the record or report. 3. A person who is absent for a continuous period of five years, during which he has not been heard from, and whose absence is not satisfactorily explained after diligent search or inquiry is presumed to be dead. His death is presumed to have occurred at the end of the period unless there is sufficient evidence for determining that death occurred earlier. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.620

Mo. Rev. Stat. § 456.037 Trust property - when deemed unclaimed.

456.037. Trust property — when deemed unclaimed. — 1. Property of any kind remaining in a trust which is not subject to administration or distribution to or for an identifiable beneficiary may be deemed to be unclaimed property when the trustee, after reasonable and diligent search, is unable to find or ascertain the existence of any heirs, legal representatives, successors or assigns of any beneficiary to whom such property is distributable by the trust instrument, by any other instrument pertaining to the trust estate, or by the laws of Missouri. 2. Property of any kind remaining in a trust, which is distributable to or for the benefit of an identified beneficiary, may be deemed to be unclaimed when such beneficiary has, for three years after a good faith attempt to notify him in writing of his right to such property, failed or refused to claim the property. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.640

Mo. Rev. Stat. § 456.039 Procedure by trustee with respect to unclaimed property.

456.039. Procedure by trustee with respect to unclaimed property. — 1. Any trustee holding such unclaimed property may file with the state treasurer a verified statement setting forth the reason or reasons why such property is presumed to be unclaimed, the efforts made to find or ascertain any heirs, legal representatives, successors or assigns of any beneficiary or beneficiaries to whom such property is distributable, a list of all instruments known to the trustee that pertain to the trust and their location, with copies of those that are in possession of the trustee, and any further facts causing the trustee to believe that the property is unclaimed, and transfer such property to the state treasurer, who shall issue his receipt therefor. 2. All property so received shall be credited to the escheat fund of the state of Missouri. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.650

Mo. Rev. Stat. § 456.041 Unclaimed property - liability of trustee.

456.041. Unclaimed property — liability of trustee. — 1. The payment or delivery of such unclaimed property to the state treasurer by the trustee shall terminate any legal relationship between the trustee and beneficiary or apparent beneficiary to receive such property and shall release and discharge the trustee from any and all liability to such beneficiary, his heirs, personal representatives, successors and assigns by such payment or delivery, regardless of whether such property is in fact or in law unclaimed property. 2. Such payment or delivery may be pleaded as a bar to recovery and shall be a defense in any suit or action brought by the apparent owner, or his heirs, personal representatives, successors or assigns, or any claimant against the trustee by reason of the delivery of payment. (L. 1983 H.B. 117, A.L. 2004 H.B. 1511) Transferred 2004; formerly 456.660

Mo. Rev. Stat. § 456.950 Definition - property and interests in property, immunity from claims, when ...

456.950. Definition — property and interests in property, immunity from claims, when — death of settlor, effect of — marital property rights, not affected by transfer — applicability. — 1. As used in this section, "qualified spousal trust" means a trust: (1) The settlors of which are married to each other at the time of the creation of the trust; and (2) The terms of which provide that during the joint lives of the settlors or the life of the sole surviving settlor all property transferred to, or held by, the trustee are: (a) Held and administered in one trust for the benefit of both settlors, which may be revocable by either settlor or both settlors while either or both are alive, and by one settlor after the death or incapacity of the other, and each settlor having the right to receive distributions of income or principal, whether mandatory or within the discretion of the trustee, from the entire trust for the joint lives of the settlors and for the survivor's life; or (b) Held and administered in two or more separate shares of one trust for the benefit of each or both of the settlors, with the trust revocable by each settlor with respect to that settlor's separate share of that trust without the participation or consent of the other settlor, and each settlor having the right to receive distributions of income or principal, whether mandatory or within the discretion of the trustee, from that settlor's separate share for that settlor's life; or (c) Held and administered under the terms and conditions contained in paragraphs (a) and (b) of this subdivision. 2. A qualified spousal trust may contain any other trust terms that are not inconsistent with the provisions of this section, including, without limitation, a discretionary power to distribute trust property to a person in addition to a settlor. 3. All property at any time held in a qualified spousal trust, without regard to how such property was titled prior to it being so held: (1) Shall have the same immunity from the claims of a separate creditor of either settlor as if such property were held outside the trust by the settlors as tenants by the entirety, unless otherwise provided in writing by the settlor or settlors who transferred such property to the trust, and such property shall be treated for that purpose, including without limitation, federal and state bankruptcy laws, as tenants by entirety property; (2) With the exception of any written financial obligations, written guarantees, or secured or unsecured transactions executed by the settlors and held in a qualified spousal trust, shall continue to be immune and exempt from attachment during the life of the surviving settlor to the extent the property was held in a qualified spousal trust prior to the death of the first settlor and remains in a qualified spousal trust. This includes any property appreciation; and (3) Shall cease to receive immunity from the claims of creditors upon the dissolution of marriage of the settlors by a court. 4. As used in this section, "property" means any interest in any type of property held in a qualified spousal trust, the income thereon, and any property into which such interest, proceeds, or income may be converted. 5. Upon the death of each settlor, all property held by the trustee of the qualified spousal trust shall be distributed as directed by the then current terms of the governing instrument of such trust. Upon the death of the first settlor to die, if immediately prior to death the predeceased settlor's interest in the qualified spousal trust was then held or deemed to be held in such settlor's separate share, the property held in such settlor's separate share may pass into an irrevocable trust for the benefit of the surviving settlor or other beneficiary upon such terms as the governing instrument shall direct, including without limitation a spendthrift provision as provided in section 456.5-502 . Property may be held in or transferred to a settlor's joint or separate share of a trust: (1) By designation under the current terms of the governing instrument of such trust; (2) According to the specific titling of property or other designation that refers to such joint or separate share of such trust; or (3) By designation to the trustee as the owner as provided in section 456.1-113 . 6. The respective rights of settlors who are married to each other in any property for purposes of a dissolution of the settlors' marriage shall not be affected or changed by reason of the transfer of that property to, or its subsequent administration as an asset of, a qualified spousal trust during the marriage of the settlors, unless both settlors expressly agree otherwise in writing. 7. No transfer to a qualified spousal trust shall avoid or defeat the Missouri uniform fraudulent transfer act in chapter 428 . 8. This section shall apply to all trusts which fulfill the criteria set forth in this section for a qualified spousal trust regardless of whether such trust was created before, on, or after August 28, 2011. (L. 2011 S.B. 59 § 1, A.L. 2012 S.B. 628 merged with S.B. 636, A.L. 2014 H.B. 1231 merged with S.B. 500, A.L. 2015 S.B. 164, A.L. 2024 S.B. 1359)

Mo. Rev. Stat. § 456.970 Short title.

456.970. Short title. — Sections 456.970 to 456.1135 shall be known and may be cited as the "Missouri Uniform Powers of Appointment Act". (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.975 Definitions.

456.975. Definitions. — As used in sections 456.970 to 456.1135 the following terms mean: (1) "Appointee" , a person to which a powerholder makes an appointment of appointive property; (2) "Appointive property" , the property or property interest subject to a power of appointment; (3) "Blanket-exercise clause" , a clause in an instrument which exercises a power of appointment and is not a specific-exercise clause. The term includes a clause that: (a) Expressly uses the words "any power" in exercising any power of appointment the powerholder has; (b) Expressly uses the words "any property" in appointing any property over which the powerholder has a power of appointment; or (c) Disposes of all property subject to disposition by the powerholder; (4) "Claim of creditor" , the attachment by a creditor of trust property or beneficial interests subject to a power of appointment, a creditor obtaining an order from a court forcing a judicial sale of trust property, a creditor compelling the exercise of a power of appointment, or a creditor reaching trust property or beneficial interests by other means; (5) "Donor" , a person who creates a power of appointment; (6) "Exclusionary power of appointment" , a power of appointment exercisable in favor of any one or more of the permissible appointees to the exclusion of the other permissible appointees; (7) "General power of appointment" , a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate; (8) "Gift-in-default clause" , a clause identifying a taker in default of appointment; (9) "Impermissible appointee" , a person that is not a permissible appointee; (10) "Instrument" , a document that contains information that: (a) Is inscribed on a hard copy, or inscribed on a hard copy that is transmitted by facsimile or stored in portable document format (.pdf) or in another comparable electronic means or other medium that is retrievable in perceivable form; and (b) Contains a signature; (11) "Nongeneral power of appointment" , a power of appointment that is not a general power of appointment; (12) "Permissible appointee" , a person in whose favor a powerholder may exercise a power of appointment; (13) "Person" , an individual, estate, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity; (14) "Power of appointment" , a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. The term does not include a power of attorney; (15) "Powerholder" , a person in which a donor creates a power of appointment; (16) "Presently exercisable power of appointment" , a power of appointment exercisable by the powerholder at the relevant time. The term includes a power of appointment not exercisable until the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified time only after: (a) The occurrence of the specified event; (b) The satisfaction of the ascertainable standard; or (c) The passage of the specified time, and does not include a power exercisable only at the powerholder's death; (17) "Specific-exercise clause" , a clause in an instrument which specifically refers to and exercises a particular power of appointment; (18) "Taker in default of appointment" , a person that takes all or part of the appointive property to the extent the powerholder does not effectively exercise the power of appointment; (19) "Terms of the instrument" , the manifestation of the intent of the maker of the instrument regarding the instrument's provisions as expressed in the instrument or as may be established by other evidence that would be admissible in a legal proceeding. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.980 Governing Law - common law and principles of equity.

456.980. Governing Law — common law and principles of equity. — 1. The creation, revocation, or amendment of the power is governed by the law of the donor's domicile at the relevant time, and the exercise, release, or disclaimer of the power, or the revocation or amendment of the exercise, release, or disclaimer of the power, is governed by the law of the powerholder's domicile at the relevant time. 2. The common law and principles of equity supplement sections 456.970 to 456.1135 , except to the extent modified by such sections or other laws of this state. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.985 Act to govern powers - exceptions.

456.985. Act to govern powers — exceptions. — 1. Except as otherwise provided in the terms of an instrument creating or exercising a power of appointment, sections 456.970 to 456.1135 govern powers of appointment. 2. The terms of an instrument creating or exercising a power of appointment prevail over any provisions of sections 456.970 to 456.1135 except: (1) The requisites for the creation of a power of appointment under subsections 1 to 4 of section 456.990 ; (2) The transferability of a power of appointment by a powerholder under subsection 1 of section 456.995 ; (3) The limitations on the authority of a donor to extend a general power of appointment beyond the death of a powerholder under subsection 3 of section 456.995 ; (4) The power is exclusionary if the permissible appointees of a power of appointment are not defined and limited under subsection 3 of section 456.1005 ; (5) The requisites for the exercise of a power of appointment under section 456.1015 ; (6) The effect of an impermissible appointment under section 456.1045 ; (7) A general power of appointment which is presently exercisable may be reached by the creditors of the powerholder or the powerholder's estate under section 456.1100 . (L. 2016 H.B. 1765, A.L. 2018 H.B. 1250)

Mo. Rev. Stat. § 456.990 Creations of power of appointment.

456.990. Creations of power of appointment. — 1. A power of appointment is created only if: (1) The instrument creating the power: (a) Is valid under applicable law; and (b) Except as otherwise provided in subsection 2 of this section transfers the appointive property; and (2) The terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee. 2. Paragraph (b) of subdivision (1) of subsection 1 of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment. 3. Power of appointment may not be created in a deceased individual. 4. Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder. 5. Any property that is the subject of an invalid power of appointment shall be transferred, held or otherwise disposed of in accordance with the valid provisions of the instrument attempting to create the power, if any such provisions exist, or if none, in accordance with other applicable laws, as the case may be. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.995 Nontransferability.

456.995. Nontransferability. — 1. A powerholder may not transfer a power of appointment. 2. Except as provided in subsection 3 of this section, to the extent a powerholder dies without effectively disclaiming, exercising or releasing a power, the power lapses upon the death of the powerholder. 3. (1) A general power of appointment may provide that the power shall survive the death of the powerholder in the hands of the powerholder's personal representative. Such provision shall be valid only to the extent the powerholder dies after he or she effectively receives the general power, but within the period for disclaiming the power, and only to the extent the powerholder has not disclaimed, exercised or released the power. Under such circumstances, the personal representative of the powerholder may either exercise the power in favor of the powerholder's estate, if the estate is a permissible appointee, or disclaim the power as provided by section 456.1080 . (2) If the power is neither exercised nor disclaimed by the powerholder's personal representative as stated, the power shall lapse at the earlier of the end of the period for making a disclaimer under other applicable Missouri laws or the end of the period in which the power is valid under its terms. (3) The terms of a general power of appointment providing that "this power of appointment shall survive the death of the powerholder", or words of similar import, shall be sufficient to extend the power after the death of a powerholder in the hands of his or her personal representative in this subsection. (4) In addition to the protections otherwise afforded under applicable law, the personal representative shall not be individually liable for his or her actions or inactions under this subsection if he or she does not have actual knowledge of the power and all pertinent circumstances reasonably necessary for him or her to make a determination on the exercise, disclaimer or lapse of the power at least one hundred * twenty days prior to the end of the period for making a disclaimer or the end of the period in which the power is valid under its terms, whichever first occurs. The foregoing exemption from liability shall not apply if the personal representative exercises or disclaims the power or allows the power to lapse in bad faith. (L. 2016 H.B. 1765) *Word "and" appears here in original rolls.

Mo. Rev. Stat. § 456.1000 Presumption of unlimited authority - exception to presumption of unlimited ...

456.1000. Presumption of unlimited authority — exception to presumption of unlimited authority. — 1. Subject to section 456.1005 , the power is: (1) Presently exercisable; (2) Exclusionary; and (3) Except as otherwise provided in subsection 2 of this section, general. 2. The power is nongeneral if: (1) The power is exercisable only at the powerholder's death; and (2) The permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1005 Rules of classification.

456.1005. Rules of classification. — 1. As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. 2. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. 3. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1010 Power to revoke or amend.

456.1010. Power to revoke or amend. — A donor may revoke or amend a power of appointment only to the extent that the instrument creating the power is revocable by the donor, or the donor reserves a power of revocation or amendment in the instrument creating the power of appointment. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1015 Requisites for exercise of power of appointment.

456.1015. Requisites for exercise of power of appointment. — A power of appointment is exercised only if: (1) The instrument exercising the power is valid under applicable law; (2) The terms of the instrument exercising the power: (a) Manifest the powerholder's intent to exercise the power; and (b) Subject to section 456.1030 , satisfy the requirements of exercise, if any, imposed by the donor; and (3) To the extent the appointment is a permissible exercise of the power. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1020 Intent to exercise - determining intent from residuary clause.

456.1020. Intent to exercise — determining intent from residuary clause. — 1. As used in this section: (1) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause; and (2) "Will" includes a codicil and a testamentary instrument that revises another will. 2. A residuary clause in a powerholder's will or a comparable clause in the powerholder's revocable trust manifests the powerholder's intent to exercise a power of appointment only if: (1) The power is a general power exercisable in favor of the powerholder's estate; (2) There is no gift-in-default clause or the clause is ineffective; and (3) The powerholder did not release the power. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1025 Intent to exercise - after-acquired power.

456.1025. Intent to exercise — after-acquired power. — 1. Except as otherwise provided in subsection 2 of this section, a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause. 2. If the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1030 Substantial compliance with donor-imposed formal requirement.

456.1030. Substantial compliance with donor-imposed formal requirement. — A powerholder's substantial compliance with a formal requirement of appointment imposed by the donor is sufficient if the powerholder knows of and intends to exercise the power, and the powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1035 Permissible appointment.

456.1035. Permissible appointment. — 1. A powerholder of a general power of appointment that permits appointment to the powerholder or the powerholder's estate may make any appointment, including an appointment in trust or creating a new power of appointment, that the powerholder could make in disposing of the powerholder's own property. 2. A powerholder of a general power of appointment that permits appointment only to the creditors of the powerholder or of the powerholder's estate may appoint only to those creditors. 3. The powerholder of a nongeneral power may: (1) Make an appointment in any form, including an appointment in trust, in favor of a permissible appointee; (2) Create a general power or nongeneral power in a permissible appointee; or (3) Create a nongeneral power in any person to appoint to one or more of the permissible appointees of the original nongeneral power. (L. 2016 H.B. 1765, A.L. 2018 H.B. 1250)

Mo. Rev. Stat. § 456.1040 Appointment to deceased appointee or permissible appointee's descendant.

456.1040. Appointment to deceased appointee or permissible appointee's descendant. — 1. An appointment to a deceased appointee is ineffective. 2. A powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee and whether or not the descendant of a deceased permissible appointee was alive at the time of the execution of the instrument creating the power or at the time of the exercise of the power. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1045 Impermissible appointment.

456.1045. Impermissible appointment. — 1. Except as otherwise provided in section 456.1040 , an exercise of a power of appointment in favor of an impermissible appointee is ineffective. 2. An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1050 Selective allocation doctrine.

456.1050. Selective allocation doctrine. — If a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property shall be allocated in the permissible manner that best carries out the powerholder's intent. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1055 Capture doctrine - disposition of ineffectively appointed property under ...

456.1055. Capture doctrine — disposition of ineffectively appointed property under general power. — To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment: (1) The gift-in-default clause controls the disposition of the ineffectively appointed property; or (2) If there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (a) Passes to the powerholder if the powerholder is a permissible appointee and living; or (b) If the powerholder is an impermissible appointee or deceased, passes to the powerholder's estate if the estate is a permissible appointee; or (c) If there is no taker under paragraph (a) or (b) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1060 Disposition of unappointed property under released or unexercised general ...

456.1060. Disposition of unappointed property under released or unexercised general power. — To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust, and except as provided in subsection 3 of section 456.995 : (1) The gift-in-default clause controls the disposition of the unappointed property; or (2) If there is no gift-in-default clause or to the extent the clause is ineffective: (a) Except as otherwise provided in paragraph (b) of this subdivision, the unappointed property passes to: a. The powerholder if the powerholder is a permissible appointee and living; or b. If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (b) To the extent the powerholder released the power, or if there is no taker under paragraph (a) of this subdivision, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1065 Disposition of unappointed property under released or unexercised ...

456.1065. Disposition of unappointed property under released or unexercised nongeneral power. — To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment: (1) The gift-in-default clause controls the disposition of the unappointed property; or (2) If there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property: (a) Passes to the permissible appointees if: a. The permissible appointees are defined and limited; and b. The terms of the instrument creating the power do not manifest a contrary intent; or (b) If there is no taker under paragraph (a) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1070 Disposition of unappointed property if partial appointment to taker in ...

456.1070. Disposition of unappointed property if partial appointment to taker in default — appointment to taker in default. — 1. If the powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment may share fully in unappointed property. 2. If a powerholder makes an appointment to a taker in default of appointment and the appointee would have taken the property in the same form, manner and amount under a gift-in-default clause had the property not been appointed, the power of appointment is deemed not to have been exercised and the appointee takes under the clause. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1075 Powerholder's authority to revoke or amend exercise.

456.1075. Powerholder's authority to revoke or amend exercise. — A powerholder may revoke or amend an exercise of a power of appointment at any time before the exercise becomes effective to transfer property to the appointee. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1080 Disclaimer.

456.1080. Disclaimer. — As provided by sections 469.010 to 469.120 , a powerholder may disclaim all or part of a power of appointment, and a permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property. (L. 2016 H.B. 1765, A.L. 2018 H.B. 1250)

Mo. Rev. Stat. § 456.1085 Authority to release - method of release - revocation or amendment of release.

456.1085. Authority to release — method of release — revocation or amendment of release. — 1. A powerholder may release a power of appointment, in whole or in part, except to the extent the terms of the instrument creating the power prevent the release. 2. A powerholder of a releasable power of appointment may release the power in whole or in part: (1) By substantial compliance with a method provided in the terms of the instrument creating the power; or (2) If the terms of the instrument creating the power do not provide a method or the method provided in the terms of the instrument is not expressly made exclusive, by an instrument manifesting the powerholder's intent by clear and convincing evidence and delivered to the donor, the donor's personal representative, a guardian of the donor or the conservator of the estate of the donor, or the holder of the legal title to the property to which the interest related. A release involving an estate or property within the jurisdiction of the probate division of a circuit court may be filed in that division. 3. A powerholder may revoke or amend a release of a power of appointment only to the extent that: (1) The instrument of release is revocable by the powerholder; or (2) The powerholder reserves a power of revocation or amendment in the instrument of release. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1090 Power to contract - presently exercisable power of appointment - power of ...

456.1090. Power to contract — presently exercisable power of appointment — power of appointment not presently exercisable. — 1. A powerholder of a presently exercisable power of appointment may contract: (1) Not to exercise the power; or (2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee. 2. A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder: (1) Is also the donor of the power; and (2) Has reserved the power in a revocable trust. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1095 Remedy for breach of contract to appoint or not to appoint.

456.1095. Remedy for breach of contract to appoint or not to appoint. — The remedy for a powerholder's breach of contract to appoint or not to appoint property is limited to damages payable out of the appointive property or, if appropriate, specific performance of the contract. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1100 Creditor claim - general power created by powerholder.

456.1100. Creditor claim — general power created by powerholder. — 1. As used in this section, "power of appointment created by the powerholder" includes a power of appointment created in a transfer by another person to the extent the powerholder contributed value to the transfer. 2. Appointive property subject to a general power of appointment created by the powerholder is subject to a claim of a creditor of the powerholder or of the powerholder's estate to the extent provided in chapter 428 . 3. Subject to subsection 2 of this section, appointive property subject to a general power of appointment created by the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder's estate: (1) To the extent the powerholder irrevocably appointed the property in favor of a person other than the powerholder or the powerholder's estate; and (2) If the power is not presently exercisable. 4. Subject to subdivision (1) of subsection 3 of this section, and notwithstanding the presence of a spendthrift provision or whether the claim arose before or after the creation of the power of appointment, appointive property subject to a general power of appointment created by the powerholder is subject to a claim of a creditor of the powerholder to the same extent as if the powerholder owned the appointive property, if the power is presently exercisable. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1105 Creditor claim - general power not created by powerholder.

456.1105. Creditor claim — general power not created by powerholder. — 1. Except as otherwise provided in subsection 3 of this section, appointive property subject to an * exercisable general power of appointment created by a person other than the powerholder is subject to a claim of a creditor of the powerholder to the extent the powerholder's property is insufficient. 2. Appointive property subject to testamentary or not presently exercisable general power of appointment created by a person other than the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder's estate. 3. Subject to subsection 3 of section 456.1115 , a power of appointment created by a person other than the powerholder which is subject to an ascertainable standard relating to an individual's health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or Section 2514(c)(1) of the Internal Revenue Code, is treated for purposes of sections 456.1100 to 456.1115 as a nongeneral power. (L. 2016 H.B. 1765) *Word "a" appears in original rolls.

Mo. Rev. Stat. § 456.1110 Power to withdraw.

456.1110. Power to withdraw. — 1. For purposes of sections 456.1100 to 456.1115 , and except as otherwise provided in subsection 2 of this section, during the period the power may be exercised, a power of withdrawal shall be treated as a presently exercisable general power of appointment to the extent of the property subject to the power. 2. Upon the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in Sections 2041(b)(2), 2514(e) or 2503(b) of the Internal Revenue Code. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1115 Creditor claim - nongeneral power.

456.1115. Creditor claim — nongeneral power. — 1. Except as otherwise provided in subsections 2 and 3 of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate. 2. Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of chapter 428 . 3. If the initial gift-in-default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of sections 456.1100 to 456.1115 as a general power. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1120 Act not to limit ability to reach a beneficial interest under Missouri ...

456.1120. Act not to limit ability to reach a beneficial interest under Missouri Uniform Trust Code. — Sections 456.970 to 456.1135 shall not limit the ability of a creditor or other claimant to reach a beneficial interest as otherwise provided in sections 456.5-501 to 456.5-507 . (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1125 Uniformity of application and construction.

456.1125. Uniformity of application and construction. — In applying and construing sections 456.970 to 456.1135 , consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1130 Relation to Electronic Signatures in Global and National Commerce Act.

456.1130. Relation to Electronic Signatures in Global and National Commerce Act. — Sections 456.970 to 456.1135 modify, limit, or supersede the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but do not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001 (c), or authorize electronic delivery of any of the notices described in Section 103(b) of that act, 15 U.S.C. Section 7003(b). (L. 2016 H.B. 1765)

Mo. Rev. Stat. § 456.1135 Application to existing relationships.

456.1135. Application to existing relationships. — 1. Except as otherwise provided in sections 456.970 to 456.1135 : (1) Sections 456.970 to 456.1135 shall apply to a power of appointment created before, on, or after August 28, 2016, and shall apply to a judicial proceeding concerning a power of appointment commenced on or after August 28, 2016; (2) Sections 456.970 to 456.1135 shall apply to a judicial proceeding concerning a power of appointment commenced before August 28, 2016, unless the court finds that application of a particular provision of such sections would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of such sections does not apply and the superseded law applies; (3) A rule of construction or presumption provided in sections 456.970 to 456.1135 applies to an instrument executed before August 28, 2016, unless there is a clear indication of a contrary intent in the terms of the instrument; and (4) Except as otherwise provided in subdivisions (1) to (3) of this subsection, an action done before August 28, 2016, is not affected by such sections. 2. If a right is acquired, extinguished, or barred on the expiration of a prescribed period that commenced under law of this state other than sections 456.970 to 456.1135 before August 28, 2016, the law continues to apply to the right. (L. 2016 H.B. 1765)

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://revisor.mo.gov/main/OneChapter.aspx?chapter=456Fetched: 10/17/2026