Bill > SB1468

This bill modifies provisions related to civil jurisprudence by repealing and reenacting numerous sections of Missouri law, primarily concerning trusts and estates, and introduces the "Missouri Uniform Fiduciary Income and Principal Act." Key changes include clarifying rules for endowed care cemeteries, ensuring trust fund records are maintained in Missouri or electronically accessible within fifteen business days, and establishing that Missouri law governs these trusts. The bill also revises procedures for no-contest clauses in trusts, allowing for pre-litigation determination of whether a claim would trigger such a clause, and clarifies that such clauses are not enforceable in specific circumstances like challenging court jurisdiction or seeking accountings. Furthermore, it updates definitions and rules for fiduciaries managing income and principal, including provisions for unitrusts, asset-backed securities, and various types of receipts and disbursements, aiming to ensure fair and reasonable administration for all beneficiaries. The bill also adjusts exemptions from attachment and execution for certain assets and modifies rules regarding attorney fees in agency proceedings.

Justice

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=36595