Revisor Home


Chapter 456

previous next Effective - 01 Jan 2005, see footnotebottom

  456.7-701.  Accepting of declining trusteeship. — 1.  Except as otherwise provided in subsection 3 of this section, a person designated as trustee accepts the trusteeship:

  (1)  by substantially complying with a method of acceptance provided in the terms of the trust; or

  (2)  if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

  2.  A person designated as trustee who has not yet accepted the trusteeship may decline the trusteeship.  A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have declined the trusteeship.

  3.  A person designated as trustee, without accepting the trusteeship, may:

  (1)  act to preserve the trust property if, within a reasonable time after acting, the person sends a declination of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and

  (2)  inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.


(L. 2004 H.B. 1511)

Effective 1-01-05

---- end of effective   01 Jan 2005 ----

use this link to bookmark section  456.7-701

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

Site changes Contact
Other Links
Oversight Library MO WebMasters
Missouri Senate
State of Missouri
Missouri House

@10:39:50.3 33