HB 1184 -- Missouri Uniform Trust Code

Sponsor:  Stevenson

This bill changes the Missouri Uniform Trust Code by redefining
"power of withdrawal" to allow a beneficiary to withdraw assets
from a trust without the consent of the trustee or any other
person where consent is currently required.  The settlor of the
trust is authorized to designate one or more persons to receive
notification of the existence of the trust and of their right to
request reports and other information related to the
administration of the trust.  Currently, a trustee may provide
notice, information, or reports to any person who is a relative
of the designated person.  The provisions of Section 456.1-112,
RSMo, will not be applicable to any trust for which a gift tax
marital deduction has been claimed or allowed.  The bill also
makes Section 456.4-411B applicable to trusts that become
irrevocable on or after January 1, 2005, and Section 456.590
applicable to all trusts that become irrevocable prior to January
1, 2005.  The doctrine of worthier title and the Rule in
Bingham's case as a rule of law and as a rule of construction is
abolished.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:42 am