Probate & Trust Law


HB 130 / SB 213 – Adult Guardianship. Enacts the Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act; changes the laws regarding guardianship of an incapacitated person; changes the laws relating to jurisdiction and communications with out-of-state courts, individuals and other entities in guardianship proceedings.

Support.
 

HB 230 – Missouri Uniform Trust Code. Changes the laws regarding the Missouri Uniform Trust Code, including specifying that a tenancy by the entirety property will automatically be deemed to be held by a husband and wife as a tenancy by the entirety property if the transfer of the property to a joint revocable trust is invalidated or terminated while the husband and wife are living; allows a trust instrument to appoint a trust protector; codifies the common law principle that a husband and wife may devise an estate held as a tenancy by the entirety by a joint testamentary disposition.

Oppose as drafted.
 

*HB 398 / SB 60 – Missouri Uniform Trust Code and Uniform Principal and Income Act.  Changes the laws regarding powers of attorney, the Missouri Uniform Trust Code, and the Uniform Principal and Income Act; specifies that a power of attorney is not required to expressly authorize the attorney in fact to amend or revoke a trust agreement if the trust agreement expressly authorizes; allows an attorney authorized in a power of attorney to make an anatomical gift of the principal’s body or exercise the right of sepulcher; clarifies when the consent of a person who is represented by another person is binding; provides a period of time (from 60 to 120 days) for a trustee to notify qualified beneficiaries after certain trust activity; changes unitrust computation and calculation of payments and brings the procedures into compliance with federal tax laws; corrects Missouri law to correlate with federal tax law with regard to retirement plans and marital deductions; clarifies trustee adjustment and how trust receipts should be paid from the trust.

Drafted by the Missouri Bar Probate and Trust Law Committee
 

*HB 399 / SB 59 – Missouri Uniform Trust Code. Changes the laws regarding the Missouri Uniform Trust Code; allows trustees of discretionary trusts to amend or create a new trust without the need of a court hearing, where such action does not impair the purpose of the original trust; sets forth conditions under which a creditor may attach a trust’s assets; clarifies a settlor’s liability where a settlor retains a power of appointment in a trust.

Drafted by the Missouri Bar Probate and Trust Law Committee 

SB 198 – Estate tax.  Repeals the estate tax.

Latest Journal of the Missouri Bar

Cover - March-April 2014Vol. 70, No. 2
March - April 2014


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2014


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