Missouri Revised Statutes
Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney
Section 404.565 - Multiple beneficiaries of custodial property, administered, how — termination of custodianship, death of beneficiaries, effect.

Effective - 28 Aug 1989
404.565. Multiple beneficiaries of custodial property, administered, how — termination of custodianship, death of beneficiaries, effect. — 1. During the lifetimes of multiple beneficiaries, ownership of custodial property between a husband and wife is presumed to be held as tenants by the entireties and among other persons, custodial property is presumed to be of equal undivided interests in the custodial property which are indefeasibly vested in the beneficiaries as tenants in common, subject to the provisions of sections 404.400 to 404.650, unless the title document provides otherwise or there is clear and convincing written evidence of a different intent of the beneficiaries or the persons creating the personal custodianship.
2. Unless held for a husband and wife as tenants by the entireties or otherwise directed by the beneficiaries or governed by a custodial agreement, the personal custodian shall administer the custodial property as separate undivided interests for the use and benefit of the custodial beneficiaries during their lifetimes and shall separately account to each beneficiary for the administration of the beneficiary's interest in the custodial property.
3. During the lifetimes of the multiple beneficiaries, the personal custodian shall follow the directions of the beneficiaries who are not incapacitated. If one of the beneficiaries becomes incapacitated, the personal custodian shall follow the directions of the beneficiaries who are not incapacitated to the extent that the directions do not conflict with the rights of the incapacitated beneficiary in the custodial property.
4. If one of two or more beneficiaries who has a right to sever his or her interest in the custodial property demands termination of the personal custodianship, the personal custodian shall deliver to the terminating beneficiary custodial property in an amount equal in value to the beneficiary's interest in the custodial property, free and clear of the custodianship, and the custodianship continues for the remaining beneficiaries.
5. At death of one of two or more beneficiaries who hold their interest in the custodial property as tenants in common, the interest of the decedent in the custodial property shall be distributed in accordance with a transfer on death direction executed under subsection 2 of section 404.560 and, if none, to the decedent's estate.
6. At death of one of two or more beneficiaries, who hold their interests in the custodial property as joint tenants with right of survivorship or as tenants by the entirety, the custodial property belongs to the surviving beneficiary or beneficiaries as against the estate of the decedent. If there are two or more surviving beneficiaries, their respective ownerships during lifetime shall be in proportion to their previous ownership interest, augmented by an equal share for each survivor of any interest the deceased beneficiary may have owned in the custodial property immediately before death, unless the decedent is the spouse of a beneficiary, in which case, the interest owned by the decedent shall be applied solely to augment the ownership interest of the surviving spouse in the custodial property, and the right of survivorship continues as between the surviving beneficiaries. When only one of two or more beneficiaries survives, the personal custodianship shall in all respects become a personal custodianship of property for a single individual.
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(L. 1989 H.B. 145)

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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.