§ 456.001 Bequests or transfer to spouse, valuation of
§ 456.003 Absence of active duties not to curtail powers of trustee
§ 456.005 Life insurance trusts
§ 456.006 Health savings account, trust may be created, when
§ 456.007 Lessor, trustee of deposits by lessee, when — exception.
§ 456.009 Lessor liable for double amount of deposit so held in trust, when
§ 456.011 Trusts for benefit of employees or self-employed persons — perpetuities — …
§ 456.013 Trusts for benefit of employees or self-employed persons — accumulation.
§ 456.014 Trust for benefit of employees — spendthrift trust, when — exempt from …
§ 456.017 Applicability of sections 456.011, 456.013, and 456.014
§ 456.019 Trustees of private foundations, charitable trusts or split-interest ..
§ 456.021 Addition to trusts
§ 456.025 Inapplicability of the rule against perpetuities — rule prohibiting …
§ 456.027 Registration of trust
§ 456.029 Registration procedure
§ 456.031 Records and certified copies
§ 456.033 Effect of registration
§ 456.035 Evidence as to death or status — five-year absence presumption of death.
§ 456.037 Trust property — when deemed unclaimed.
§ 456.039 Procedure by trustee with respect to unclaimed property
§ 456.041 Unclaimed property — liability of trustee.
§ 456.950 Definition — property and interests in property, immunity from claims, when …
§ 456.970 Short title
§ 456.975 Definitions
§ 456.980 Governing Law — common law and principles of equity.
§ 456.985 Act to govern powers — exceptions.
§ 456.990 Creations of power of appointment
§ 456.995 Nontransferability
§ 456.1000 Presumption of unlimited authority — exception to presumption of unlimited …
§ 456.1005 Rules of classification
§ 456.1010 Power to revoke or amend
§ 456.1015 Requisites for exercise of power of appointment
§ 456.1020 Intent to exercise — determining intent from residuary clause.
§ 456.1025 Intent to exercise — after-acquired power.
§ 456.1030 Substantial compliance with donor-imposed formal requirement
§ 456.1035 Permissible appointment
§ 456.1040 Appointment to deceased appointee or permissible appointee’s descendant
§ 456.1045 Impermissible appointment
§ 456.1050 Selective allocation doctrine
§ 456.1055 Capture doctrine — disposition of ineffectively appointed property under …
§ 456.1060 Disposition of unappointed property under released or unexercised general ..
§ 456.1065 Disposition of unappointed property under released or unexercised ..
§ 456.1070 Disposition of unappointed property if partial appointment to taker in ..
§ 456.1075 Powerholder’s authority to revoke or amend exercise
§ 456.1080 Disclaimer
§ 456.1085 Authority to release — method of release — revocation or amendment of release.
§ 456.1090 Power to contract — presently exercisable power of appointment — power of …
§ 456.1095 Remedy for breach of contract to appoint or not to appoint
§ 456.1100 Creditor claim — general power created by powerholder.
§ 456.1105 Creditor claim — general power not created by powerholder.
§ 456.1110 Power to withdraw
§ 456.1115 Creditor claim — nongeneral power.
§ 456.1120 Act not to limit ability to reach a beneficial interest under Missouri ..
§ 456.1125 Uniformity of application and construction
§ 456.1130 Relation to Electronic Signatures in Global and National Commerce Act
§ 456.1135 Application to existing relationships
§ 456.1-101 Short title
§ 456.1-102 Scope
§ 456.1-103 Definitions
§ 456.1-104 Knowledge
§ 456.1-105 Default and mandatory rules
§ 456.1-106 Common law of trusts — principles of equity.
§ 456.1-107 Governing law
§ 456.1-108 Principal place of administration
§ 456.1-109 Methods and waiver of notice
§ 456.1-110 Others treated as qualified beneficiaries
§ 456.1-111 Nonjudicial settlement agreements
§ 456.1-112 Rules of construction — inapplicable to certain trusts.
§ 456.1-113 Transfer of assets to trust subjects assets to terms of the trust
§ 456.2-201 Role of court in administration of trust
§ 456.2-202 Jurisdiction over trustee and beneficiary
§ 456.2-204 Venue
§ 456.2-205 Enforceability of mediation or arbitration provisions
§ 456.3-301 Representation, basic effect — prohibited, when.
§ 456.3-302 Representation by holder of general testamentary power of appointment
§ 456.3-303 Representation by fiduciaries and parents
§ 456.3-304 Representation by person having substantially identical interest
§ 456.3-305 Appointment of representative
§ 456.4-401 Methods of creating trust
§ 456.4-402 Requirements for creation
§ 456.4-403 Trusts created in other jurisdictions
§ 456.4-404 Trust purposes
§ 456.4-405 Charitable purposes — enforcement.
§ 456.4-406 Creation of trust induced by fraud, duress, or undue influence
§ 456.4-407 Evidence of oral trust
§ 456.4-408 Trust for care of animal
§ 456.4-409 Noncharitable trust without ascertainable beneficiary
§ 456.4-410 Modification or termination of trust — proceedings for approval or disapproval.
§ 456.4-411A Modification or termination of noncharitable irrevocable trust by consent, ..
§ 456.4-411B Modification or termination of noncharitable irrevocable trust by consent — …
§ 456.4-412 Modification or termination because of unanticipated circumstances or ..
§ 456.4-413 Cy pres
§ 456.4-414 Modification or termination of uneconomic trust
§ 456.4-415 Reformation to correct mistakes
§ 456.4-416 Modification to achieve settlor’s tax objectives
§ 456.4-417 Combination and division of trusts
§ 456.4-418 Distribution of trust income or principal to qualified remainder ..
§ 456.4-419 Distributions of income and principal of first trusts and second trusts, ..
§ 456.4-420 No-contest clause, claims for relief
§ 456.5-501 Rights of beneficiary’s creditor or assignee, exceptions
§ 456.5-502 Spendthrift provision
§ 456.5-503 Exceptions to spendthrift provision
§ 456.5-504 Discretionary trusts, interest not enforceable, when — applicability — …
§ 456.5-505 Creditor’s claim against settlor
§ 456.5-506 Mandatory distribution defined — overdue distribution.
§ 456.5-507 Personal obligations of trustee
§ 456.5-508 Creditor claim, appointive property not subject to, when
§ 456.6-601 Capacity of settlor of revocable trust
§ 456.6-602 Revocation or amendment of revocable trust
§ 456.6-603 Settlor’s powers — powers of withdrawal.
§ 456.6-604 Limitation on action contesting validity of revocable trust — distribution …
§ 456.7-701 Accepting of declining trusteeship
§ 456.7-702 Trustee’s bond
§ 456.7-703 Cotrustees
§ 456.7-704 Vacancy in trusteeship — appointment of successor.
§ 456.7-705 Resignation of trustee
§ 456.7-706 Removal of trustee
§ 456.7-707 Delivery of property by former trustee
§ 456.7-708 Compensation of trustee
§ 456.7-709 Reimbursement of expenses
§ 456.8-801 Duty to administer trust
§ 456.8-802 Duty of loyalty
§ 456.8-803 Impartiality
§ 456.8-804 Prudent administration
§ 456.8-805 Costs of administration
§ 456.8-806 Trustee’s skills
§ 456.8-807 Delegation by trustee
§ 456.8-808 Powers to direct — trust protector, powers, limitations.
§ 456.8-809 Control and protection of trust property
§ 456.8-810 Record keeping and identification of trust property
§ 456.8-811 Enforcement and defense of claims
§ 456.8-812 Collecting trust property
§ 456.8-813 Duty to inform and report — inapplicable, when.
§ 456.8-814 Discretionary powers — tax savings.
§ 456.8-815 General powers of trustee
§ 456.8-816 Specific powers of trustee
§ 456.8-817 Distribution upon termination
§ 456.10-1001 Remedies for breach of trust
§ 456.10-1002 Damages for breach of trust
§ 456.10-1003 Damages in absence of breach
§ 456.10-1004 Attorney’s fees and costs
§ 456.10-1005 Limitation of action against trustee
§ 456.10-1006 Reliance on trust instrument
§ 456.10-1007 Event affecting administration or distribution
§ 456.10-1008 Exculpation of trustee
§ 456.10-1009 Beneficiary’s consent, release, or ratification
§ 456.10-1010 Limitation on personal liability of trustee
§ 456.10-1011 Interest as general partner
§ 456.10-1012 Protection of person dealing with trustee
§ 456.10-1013 Certification of trust
§ 456.11-1101 Uniformity of application and construction
§ 456.11-1102 Electronic records and signatures
§ 456.11-1103 Severability clause
§ 456.11-1104 Effective date
§ 456.11-1106 Application to existing relationships

Terms Used In Missouri Laws > Chapter 456 - Trusts and Trustees — The Uniform Trust Code

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • 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
  • Bequest: Property gifted by will.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Devise: To gift property by will.
  • Donor: The person who makes a gift.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiduciary: A trustee, executor, or administrator.
  • following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Guardian: if used in a section in a context relating to property rights or obligations, means conservator of the estate as defined in Missouri Laws 1.020
  • hereafter: means the time after the statute containing it takes effect. See Missouri Laws 1.020
  • Heretofore: means any time previous to the day when the statute containing it takes effect. See Missouri Laws 1.020
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Inter vivos: Transfer of property from one living person to another living person.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lineal descendant: Direct descendant of the same ancestors.
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
  • Personal property: includes money, goods, chattels, things in action and evidences of debt. See Missouri Laws 1.020
  • Place of residence: means the place where the family of any person permanently resides in this state, and the place where any person having no family generally lodges. See Missouri Laws 1.020
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • 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
  • Probate: Proving a will
  • Property: includes real and personal property. See Missouri Laws 1.020
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
  • Statute: A law passed by a legislature.
  • Testator: A male person who leaves a will at death.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes such district and territories. See Missouri Laws 1.020
  • Venue: The geographical location in which a case is tried.
  • Ward: if used in a section in a context relating to the property rights and obligations of a person, means a protectee as defined in Missouri Laws 1.020