Probate & Trust Law
HB 1087 – Adult Health Care Consent Act. Establishes the Adult Health Care Consent Act which specifies a priority of persons who can make health care decisions for a person who has been certified as unable to consent to his or her own care. Support concept.
*HB 1165/SB 636 – Qualified Spousal Trusts. Changes the requirements for qualified spousal trusts to allow the trust to consist of both property held in one trust for both spouses and property held in two shares on one trust for each spouse. Drafted by The Missouri Bar's Probate & Trust Law Committee.
*HB 1166/SB 761 – Trust Protectors. Allows a trust instrument to appoint a trust protector who is expressly granted one or more powers over the trust in the trust instrument. Drafted by The Missouri Bar's Probate & Trust Law Committee.
HB 1349 – Irrevocable life insurance trusts. Changes the laws regarding irrevocable life insurance trusts. Specifically allows a bank or trust company with authorized trust authority to transfer fiduciary obligations consisting only of irrevocable life insurance trusts to any bank to trust company with authorized trust authority.
SB 623 – Transfer of fiduciary obligations.Allows all banks, trust companies, and national banks with trust powers,regardless of location, to transfer fiduciary obligations consisting only of irrevocable life insurance trusts to any such banks and trust companies.