Missouri Revised Statutes
Chapter 469 - Disclaimers of Property
Section 469.901 - Trustee duties, settlor may restrict or expand.

Effective - 28 Aug 2004
469.901. Trustee duties, settlor may restrict or expand. — 1. Except as otherwise provided in subsection 2 of this section, or by other applicable laws, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this act*.
2. A settlor may expand or restrict the prudent investor rule detailed in this act* by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee's good faith reliance on these express provisions.
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(L. 1996 H.B. 1432, A.L. 2004 H.B. 1511)
Transferred 2004; formerly 456.901
*"This act" (H.B. 1432, 1996) contained numerous sections. Consult Disposition of Sections table for a definitive listing.

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXXI - Trusts and Estates of Decedents and Persons Under Disability

Chapter 469 - Disclaimers of Property

Section 469.010 - General rule, effect of disclaimer.

Section 469.020 - Disclaimer, how and when made — delivery — right to disclaim.

Section 469.030 - Acceptance, how shown, preclusion of later disclaimer — who may accept or disclaim.

Section 469.040 - Revocable transfers.

Section 469.050 - Separate interests, disclaimers or acceptance.

Section 469.070 - Contingent interests.

Section 469.080 - Per stirpes transfers.

Section 469.090 - Special rules for interests under old transfers.

Section 469.100 - Special rule for persons attaining majority — transfers after 1976.

Section 469.110 - Chapter not exclusive.

Section 469.120 - Retroactive effect.

Section 469.240 - Definitions.

Section 469.250 - Payment or transfers to fiduciaries or at the direction of the fiduciary, effect on transferor.

Section 469.260 - Transfer of negotiable instrument by fiduciary.

Section 469.270 - Check drawn by fiduciary payable to third person.

Section 469.280 - Check drawn by and payable to fiduciary.

Section 469.290 - Deposit in name of fiduciary as such.

Section 469.300 - Deposit in name of principal.

Section 469.310 - Deposit in fiduciary's personal account.

Section 469.320 - Deposit in name of two or more trustees.

Section 469.330 - Cases not provided for in law.

Section 469.340 - Uniformity of interpretation.

Section 469.350 - Short title.

Section 469.401 - Definitions.

Section 469.402 - Applicability.

Section 469.403 - Disbursements to or between principal and income, fiduciary's responsibilities.

Section 469.405 - Adjustments between principal and income permitted by trustee, factors to be considered — no adjustment permitted, when.

Section 469.409 - Bar on claim of breach of fiduciary duty, when — applicable rules.

Section 469.411 - Determination of unitrust amount — definitions — exclusions to average net fair market value of assets — applicability of section to certain trusts — net income of trust to be unitrust amount, when.

Section 469.413 - Death of decedent or end of income interest, applicable rules.

Section 469.415 - Rights of beneficiaries to net income.

Section 469.417 - Beneficiary entitled to net income, when — asset subject to trust, when — income interest.

Section 469.419 - Trustee to allocate income receipt or disbursement, when.

Section 469.421 - Mandatory income interest, undistributed income, paid when.

Section 469.423 - Allocations by trustee — entity defined.

Section 469.425 - Allocations to income or principal.

Section 469.427 - Separate accounting records maintained, when, procedure.

Section 469.429 - Allocations to principal.

Section 469.431 - Rental property, allocation to income.

Section 469.432 - Interest allocated to income — amounts received from sale, redemption or disposition of an obligation to pay money to principal.

Section 469.433 - Life insurance proceeds allocated to principal — dividends allocated to income.

Section 469.435 - Insubstantial amounts may be allocated to principal, exceptions — presumption of insubstantial amount, when.

Section 469.437 - Distributions allocated as income, when — definitions — balance allocated to principal, when — effect of separate accounts or funds — marital deduction, effect of.

Section 469.439 - Ten percent of receipts from liquidating asset allocated to income, remainder to principal.

Section 469.441 - Allocation of interest in minerals or other natural resources — interest in water, allocation of.

Section 469.443 - Sale of timber and related products, allocation of net receipts.

Section 469.445 - Marital deduction, insufficient income, allowable actions.

Section 469.447 - Transactions in derivatives allocated to principal — options to sell or buy property allocated to principal.

Section 469.449 - Allocation of collateral financial assets and asset-backed securities.

Section 469.451 - Required disbursements from income.

Section 469.453 - Required disbursements from principal.

Section 469.455 - Depreciation not to be transferred.

Section 469.457 - Principal disbursement, permitted transfers.

Section 469.459 - Taxes to be paid from income or principal, when.

Section 469.461 - Adjustments between principal and income, when — estate tax marital deduction or charitable contributions, how handled.

Section 469.463 - Uniformity considered in application and construction.

Section 469.465 - Severability clause.

Section 469.467 - Applicability of sections.

Section 469.600 - Doctrine of worthier title and Rule in Bingham's case abolished, effect of language describing beneficiaries.

Section 469.900 - Citation of law — definitions.

Section 469.901 - Trustee duties, settlor may restrict or expand.

Section 469.902 - Trustee duties and powers — decisions to be evaluated in context of trust.

Section 469.903 - Diversification required, exception.

Section 469.904 - Trust assets, retention and disposition.

Section 469.905 - To whom duty owed.

Section 469.906 - Multiple beneficiaries, duty owed to whom.

Section 469.907 - Restriction on costs.

Section 469.908 - Prudent investor rule, standard.

Section 469.909 - Trustee powers, delegation — agent duties — liability of agent — agent submits to jurisdiction, when.

Section 469.910 - Trust terms and phrases, definition.

Section 469.911 - Applicability of certain sections.

Section 469.912 - Interpretation of certain sections.

Section 469.913 - Specific statutory standards to control.