☰ Revisor of Missouri

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

< > Effective - 28 Aug 2016, 2 histories bottom

  456.4-411B.  Modification or termination of noncharitable irrevocable trust by consent — applicability. — 1.  When all of the adult beneficiaries having the capacity to contract consent, the court may, upon finding that the interest of any nonconsenting beneficiary will be adequately protected, modify the terms of a noncharitable irrevocable trust so as to reduce or eliminate the interests of some beneficiaries and increase those of others, change the times or amounts of payments and distributions to beneficiaries, or provide for termination of the trust at a time earlier or later than that specified by its terms.  The court may at any time upon its own motion appoint a representative pursuant to section 456.3-305 to represent a nonconsenting beneficiary.  The court shall appoint such a representative upon the motion of any party, unless the court determines such an appointment is not appropriate under the circumstances.

  2.  Upon termination of a trust under subsection 1 of this section, the trustee shall distribute the trust property as directed by the court.

  3.  If a trust cannot be terminated or modified under subsection 1 of this section because not all adult beneficiaries having capacity to contract consent or the terms of the trust prevent such modification or termination, the modification or termination may be approved by the court if the court is satisfied that the interests of a beneficiary, other than the settlor, who does not consent will be adequately protected, modification or termination will benefit a living settlor who is also a beneficiary, and:

  (1)  in the case of a termination, the party seeking termination establishes that continuance of the trust is not necessary to achieve any material purpose of the trust; or

  (2)  in the case of a modification, the party seeking modification establishes that the modification is not inconsistent with a material purpose of the trust, and the modification is not specifically prohibited by the terms of the trust.

  4.  This section shall replace the provisions of section 456.590* and shall apply to all trusts that were created under trust instruments that become irrevocable prior to, on, or after January 1, 2005.

­­--------

(L. 2004 H.B. 1511, A.L. 2006 S.B. 892, A.L. 2016 H.B. 1765 § 456.4B-411)

*Section 456.590 was repealed by H.B. 1765, 2016.

Transferred 2016; formerly § 456.4B-411


---- end of effective  28 Aug 2016 ----

use this link to bookmark section  456.4-411B


 - All versions
Effective End
456.4-411B 8/28/2016
456.4-411B 8/28/2016 8/28/2016

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House