Effective - 28 Aug 1989
404.545. Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to. — 1. A personal custodianship for an adult beneficiary shall be treated as a custodial trust whenever property is transferred to any adult person or financial institution followed in substance with the words "as custodial trustee for ______ (name of beneficiary or beneficiaries) under the Missouri Personal Custodian Law".
2. When property is placed in the name of a custodial trustee, legal title to the custodial property resides in the custodial trustee and beneficial ownership of the custodial property is indefeasibly vested in the custodial beneficiary, subject to the provisions of sections 404.400 to 404.650.
3. A transfer of property to a custodial trustee under the Missouri personal custodian law incorporates in the transfer all the provisions of sections 404.400 to 404.650 and grants to the custodial trustee, beneficiary and third persons dealing with the custodial trustee, the respective powers, rights and immunities provided in sections 404.400 to 404.650. By holding property for a beneficiary as custodial trustee under sections 404.400 to 404.650, the custodial trustee 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 trust agreement between the transferor or beneficiary and the custodial trustee.
4. The provisions in sections 404.400 to 404.650 respecting court proceedings, court jurisdiction and court powers shall apply to custodial trusts under this section to the same extent as they apply to personal custodianships.
5. The law applicable to trusts and trustees, including chapter 456, shall apply to custodial trusts under this section in addition to sections 404.400 to 404.650, insofar as such law does not conflict with sections 404.400 to 404.650.
6. An inter vivos or testamentary trust that is not a custodial trust under this section may incorporate any provision of sections 404.400 to 404.650 into the governing document of the trust; and the statute as incorporated shall apply with the same force of law as it applies to a custodial trust, including sections respecting court proceedings, court jurisdiction and court powers.
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(L. 1989 H.B. 145)
Structure 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 404.014 - 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 404.035 - Qualifications of custodians — transfers to persons not qualified, effect.
Section 404.061 - Exemption of third person from liability.
Section 404.067 - Liability to third persons.
Section 404.077 - Effect on prior existing custodianship.
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 404.450 - 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 404.510 - 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 404.600 - Exemption of third person from liability.
Section 404.610 - Liability to third persons.
Section 404.640 - Jurisdiction for transfers to personal custodianship.
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 404.710 - Power of attorney with general powers.
Section 404.714 - Duties of attorney in fact.
Section 404.719 - Exemption of third persons from liability.
Section 404.721 - Liability as between principal and third person.
Section 404.725 - Compensation of attorney in fact.
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 404.835 - 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.