Section 461.043

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 461

Effective - 28 Aug 1995   

  461.043.  Beneficiary designation designating a trustee under trust not invalid because trust is amendable or revocable — trust that is revoked, terminated or does not exist at death of owner, effect. — 1.  A beneficiary designation designating a trustee under a trust established or to be established by the owner or some other person, including a funded or unfunded trust, shall not be invalid because the trust is amendable or revocable or both or because the trust was amended after the designation.

  2.  Unless a beneficiary designation provides otherwise, a trust that was revoked or terminated before the death of the owner shall be deemed not to have survived the owner.

  3.  Unless a beneficiary designation provides otherwise, a legal entity or trust that does not exist or come into existence at the time of the owner's death shall be deemed not to have survived the owner.

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(L. 1995 S.B. 116)