Missouri Laws 473.657 – Distribution
Current as of: 2023 | Check for updates
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1. Distribution to a distributee may be made to the distributee or to a person holding a power of attorney properly executed by the distributee in accordance with the law of the place of execution, or to the distributee’s personal representative, guardian, or conservator.
2. Distribution may be made to the trustees of a trust account established pursuant to sections 402.199 to 402.208 if the court finds that the distributee qualifies as a life beneficiary under subdivision (1) of section 402.200 and that such distribution would be in the best interest of the distributee as prescribed by section 475.093.
Terms Used In Missouri Laws 473.657
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC