Section 456.6-604

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

Effective - 01 Jan 2005, see footnote   

  456.6-604.  Limitation on action contesting validity of revocable trust — distribution of trust property. — 1.  A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earliest of:

  (1)  two years after the settlor's death;

  (2)  six months after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time allowed for commencing a proceeding; or

  (3)  in the case of a trust that was revocable at the settlor's death that is entitled to a distribution under the settlor's will, on the date that any contest of that will is barred under the provisions of section 473.083, provided that a copy of the trust instrument was filed with the probate division within ninety days of the first publication of notice of granting of letters on the estate of the decedent under section 473.033.

  2.  For purposes of subdivision (2) of subsection 1 of this section, the trustee may provide the documentation and information set forth in that subsection to:

  (1)  all persons who would be entitled to notice of granting of letters on the estate of the decedent under section 473.033; and

  (2)  all persons whose interests are, in the opinion of the trustee, adversely affected by the terms of the trust.

  3.  Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust.  The trustee is not subject to liability for doing so unless:

  (1)  the trustee knows of a pending judicial proceeding contesting the validity of the trust; or

  (2)  a potential contestant has notified the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within sixty days after the contestant sent the notification.

  4.  A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.

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(L. 2004 H.B. 1511)

Effective 1-01-05