Missouri Laws 456.5-501 – Rights of beneficiary’s creditor or assignee, exceptions
Current as of: 2023 | Check for updates
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Terms Used In Missouri Laws 456.5-501
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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
Except as otherwise provided in sections 456.5-502 to 456.5-507, to the extent a beneficiary‘s interest is not subject to a spendthrift provision, an assignee or a judgment creditor of the beneficiary may, without court order, reach the beneficiary’s interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The court may limit the award to such relief as is appropriate under the circumstances.