Missouri Revised Statutes
Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney
Section 404.420 - Personal custodian established by adult beneficiary — who may serve — revocation — effect — powers, duties and immunities of custodian — single custodian may serve more than one beneficiary.

Effective - 28 Aug 1989
404.420. Personal custodian established by adult beneficiary — who may serve — revocation — effect — powers, duties and immunities of custodian — single custodian may serve more than one beneficiary. — 1. An adult person who is not an incapacitated person may transfer property which he owns to any adult person or financial institution as personal custodian to hold and administer for him as beneficiary of a personal custodianship under sections 404.400 to 404.650. A transfer of property to a personal custodian made by a beneficiary in the manner prescribed in section 404.540 is revocable by the beneficiary in the manner prescribed in sections 404.560 and 404.570. Ownership of the property transferred remains indefeasibly vested in the beneficiary, subject to the personal custodianship provided in sections 404.400 to 404.650 for the benefit of the beneficiary.
2. By transferring property to a personal custodian under sections 404.400 to 404.650, the beneficiary incorporates in the transfer all the provisions of sections 404.400 to 404.650 and grants to the personal custodian, and third persons dealing with the personal custodian, the respective powers, rights and immunities provided in sections 404.400 to 404.650. By holding property for a beneficiary as personal custodian under sections 404.400 to 404.650, the personal custodian assumes the obligation to administer the custodial property for the beneficiary as prescribed in sections 404.400 to 404.650 and the provisions of any written agreement between the beneficiary and personal custodian.
3. Only one person may be personal custodian under sections 404.400 to 404.650 for the property placed in a personal custodianship, but a beneficiary may transfer custody of different property to another personal custodian under sections 404.400 to 404.650. A person may be a personal custodian of property for more than one beneficiary, but the personal custodian shall separately hold and administer the custodial property for each beneficiary unless the property is transferred to the personal custodian for the use and benefit of multiple beneficiaries in accordance with subdivision (6) of subsection 1 of section 404.540.
­­--------
(L. 1986 S.B. 651 § 2 subsecs. 1, 2, 4, A.L. 1989 H.B. 145)

<< Previous
Next >>

Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXVI - Trade and Commerce

Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney

Section 404.005 - Law, how cited.

Section 404.007 - Definitions.

Section 404.011 - Transfer of property to a minor by transferring to a custodian, effect — power limitations.

Section 404.014 - Present transfer of property, effect.

Section 404.016 - Future transfers of property are revocable by donor, exception.

Section 404.018 - Custodian and third persons dealing with custodian, powers, duties, immunities.

Section 404.021 - Single custodianship — but custodian may serve more than one minor.

Section 404.023 - Custodians for present transfers of property, who may serve.

Section 404.027 - Custodians for future transfers, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation.

Section 404.031 - Custodian if no appointed conservator, who may serve — approval of court required when — bond required when — court's powers.

Section 404.035 - Qualifications of custodians — transfers to persons not qualified, effect.

Section 404.041 - Additional property of minor transferred to custodian, when — guardian or conservator appointed by court may serve as custodian, when — custodian's rights in other property of minor.

Section 404.047 - Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release.

Section 404.049 - Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to.

Section 404.051 - Powers of custodian, limitation — termination of custodianship, when, procedure — degree of care required for custodial property.

Section 404.054 - Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property.

Section 404.057 - Successor custodian designation on renunciation, resignation, death, incapacity, nonresident minor or removal of custodian.

Section 404.061 - Exemption of third person from liability.

Section 404.067 - Liability to third persons.

Section 404.071 - Accounting by and determination of liability of custodian — time limitations for minor bringing action.

Section 404.077 - Effect on prior existing custodianship.

Section 404.081 - Uniformity of application and construction — not to be exclusive method of transferring property to a minor.

Section 404.087 - Repeal of uniform gifts to minors not to affect transfers — use of word custodian, how defined.

Section 404.091 - Jurisdiction for transfers to minors and custodianship to be probate division of circuit court, procedure — appointment of guardian or conservator, court may specify duties.

Section 404.093 - Conflicts of interest — guardian or conservator ad litem appointed, when, compensation.

Section 404.094 - Law of Missouri to apply, when — other state's laws applicable, when.

Section 404.400 - Law, how cited.

Section 404.410 - Definitions.

Section 404.420 - Personal custodian established by adult beneficiary — who may serve — revocation — effect — powers, duties and immunities of custodian — single custodian may serve more than one beneficiary.

Section 404.430 - Incapacitation of beneficiaries, effect on powers and duties of custodian — immunities of third parties.

Section 404.440 - Transfer of property to personal custodian for incapacitated beneficiary — effect — powers, duties, and immunities of custodian — single custodian may serve more than one beneficiary.

Section 404.450 - Present transfer, effect.

Section 404.460 - Future transfers of property revocable by donor, exception.

Section 404.470 - Custodian designation by donor on present transfer, who may serve.

Section 404.480 - Custodian designation by donor for future transfer, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation.

Section 404.490 - Custodian designation by person indebted to beneficiary, who may serve — court approval required, court's powers.

Section 404.500 - Acceptance of additional property by custodian, court approval required, court's powers.

Section 404.510 - Court's designation of custodian, when — who may serve, court's powers.

Section 404.520 - Custodian's rights in other property of beneficiary.

Section 404.530 - Qualifications of personal custodians, transfer to person not qualified, effect.

Section 404.540 - Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release.

Section 404.545 - Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to.

Section 404.550 - Duties and powers of personal custodian, directions of beneficiary, court's powers, contract with beneficiary.

Section 404.560 - Termination of custodianship, demand of or at death of beneficiary — TOD agreement with personal custodian absent a will, payment of claims, distribution.

Section 404.565 - Multiple beneficiaries of custodial property, administered, how — termination of custodianship, death of beneficiaries, effect.

Section 404.570 - Rights of creditors, surviving spouse and unmarried minor children — action for accounting by distributee of nonprobate transfer.

Section 404.580 - Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property.

Section 404.590 - Successor custodian designation on renunciation, resignation, death, incapacity or removal of custodian.

Section 404.600 - Exemption of third person from liability.

Section 404.610 - Liability to third persons.

Section 404.620 - Accounting by custodian, approval by court, waiver — determination of liability of custodian — time limitations for beneficiary to bring actions.

Section 404.630 - Uniformity of application and construction — not to be exclusive method of transferring property to an incapacitated person.

Section 404.640 - Jurisdiction for transfers to personal custodianship.

Section 404.648 - Conflicts of interest — guardian or conservator ad litem appointed, when, compensation.

Section 404.650 - Law of Missouri to apply, when — other state's laws applicable, when.

Section 404.700 - Law, how cited.

Section 404.703 - Definitions.

Section 404.705 - Durable power of attorney, procedure to create, requirements, effect, recording not required, exception — person appointed has no duty to exercise authority conferred, exception.

Section 404.707 - Principal may appoint multiple attorneys in fact — authority may be joint or several — qualifications — persons disqualified.

Section 404.710 - Power of attorney with general powers.

Section 404.712 - Name in which acts are performed and property held — property and accounts of principal to be kept separate — how identified.

Section 404.714 - Duties of attorney in fact.

Section 404.717 - Modification and termination of power of attorney — liability between principal and attorney in fact.

Section 404.719 - Exemption of third persons from liability.

Section 404.721 - Liability as between principal and third person.

Section 404.723 - Delegation of powers, successor attorneys in fact — court's powers, appointments for incapacitated or disabled persons.

Section 404.725 - Compensation of attorney in fact.

Section 404.727 - Accounting, determination of disability, modification and termination, limitation or removal of attorney in fact and limitations for principal to bring actions.

Section 404.730 - Scope and application of law — application of law to nondurable powers of attorney.

Section 404.731 - Jurisdiction of probate division of circuit court — guardian or conservator ad litem appointed, when.

Section 404.735 - Repeal of sections 486.550 to 486.595 does not affect validity of existing durable powers of attorney.

Section 404.737 - Exceptions to amendments of durable power of attorney law enacted in 1997.

Section 404.800 - Short title.

Section 404.805 - Definitions.

Section 404.810 - Applicability of general law.

Section 404.815 - Physician, health care facility, not to serve as attorney in fact — exceptions.

Section 404.820 - Withdrawing or withholding treatment, specific authority required — restrictions.

Section 404.822 - Health care decisions, attorney in fact to consider medical diagnosis.

Section 404.825 - Examination of patient required, content.

Section 404.830 - Physician, health care facility, may refuse decision of attorney in fact, when — transfer from facility allowed.

Section 404.835 - Execution of durable power of attorney not to be required.

Section 404.840 - Medical records to include durable power of attorney, when — effect.

Section 404.845 - Death resulting from withholding treatment, not to be suicide or homicide, when.

Section 404.847 - Prior durable power of attorney remains valid, when.

Section 404.850 - Revocation, procedure, effect.

Section 404.855 - Liability, immunity from, when.

Section 404.865 - Delegation of decision-making authority by attorney in fact prohibited, when.

Section 404.870 - Handicapped or disabled, discrimination against not allowed.

Section 404.872 - Refusal to honor health care decision, discrimination prohibited, when.