Effective - 28 Aug 1993
404.560. Termination of custodianship, demand of or at death of beneficiary — TOD agreement with personal custodian absent a will, payment of claims, distribution. — 1. To the extent that the custodial property has not been expended, the personal custodian shall deliver the custodial property in an appropriate manner, free of the custodianship, as follows:
(1) To an adult beneficiary on demand, if the beneficiary at the time is not incapacitated; or
(2) On the beneficiary's death, to the beneficiary's estate, unless the beneficiary has made provision for a distribution under subsection 2 of this section.
2. A beneficiary competent to execute a will may enter into a written agreement with the personal custodian in which the personal custodian is directed and authorized on death of the beneficiary to:
(1) Settle the affairs of the personal custodianship and pay all expenses incurred by the custodianship before the beneficiary's death and in connection with settling the affairs of the custodianship and distributing the custodial property at death;
(2) Pay any debts or taxes that were owing by the beneficiary before death and any debts, taxes and expense owing as a result of the beneficiary's death and distribution of the custodial property at death, including the expense of the beneficiary's last illness, funeral and the cost of a grave marker; and
(3) Transfer and distribute the custodial property remaining in accordance with a written beneficiary designation or transfer on death direction that has been delivered to the personal custodian and that has been signed by the beneficiary, dated and acknowledged or proved and certified in the manner prescribed by law for conveyances of real estate.
3. A beneficiary's written agreement with the personal custodian and any beneficiary designation or transfer on death direction executed pursuant to subsection 2 of this section remains revocable during the beneficiary's lifetime unless expressly made irrevocable at the time executed or subsequently, and may not be made or revoked for the beneficiary by an attorney in fact or legal representative unless approved by court order.
4. A personal custodian closing a beneficiary's custodial estate by making a distribution of property under subsection 2 of this section shall give the beneficiary's spouse, children and heirs at law thirty days' advance written notice of the distribution to be made; and shall file for record in the probate division of the circuit court within thirty days of making distribution, a notice setting forth the names and addresses of the deceased beneficiary, the personal custodian and each person that received a distribution of custodial property.
5. If the personal custodian does not deliver the custodial property in accordance with subsection 1 or 2 of this section, a beneficiary who is not incapacitated, a person entitled to the custodial property or the beneficiary's personal representative may petition the court to declare the personal custodianship terminated and to order delivery of the custodial property free of the custodianship to the beneficiary, the persons entitled thereto or the beneficiary's estate.
6. To the extent the custodial property is real property, a conveyance and delivery of the real property by a nonincapacitated beneficiary, by the persons entitled thereto or by the beneficiary's personal representative, shall terminate the personal custodian's powers, duties and rights with respect to the real property.
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(L. 1986 S.B. 651 § 6 subsec. 5 subdivs. (1) to (6), A.L. 1989 H.B. 145, A.L. 1993 S.B. 277)
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.