Estates, Wills And Trusts Legislation - Missouri

Sb 745 - This act provides that a custodial parent may designate a person to act as a standby guardian of their minor child or incapacitated adult child by a will or by a separate written instrument. If a parent who has designated a standby guardian is or becomes seriously ill, the parent or designated standby guardian may file a petition in probate court seeking appointment of the person as the standby guardian of the minor child or incapacitated adult child. The petition must be filed with a copy of the will or instrument designating the standby guardian, with consent to act as standby guardian by the person so designated. The petition also must contain certain identifying and contact information for the minor or incapacitated adult child, the custodial parent and designated standby guardian, each parent of the minor or incapacitated adult child, the spouse and all living children of the minor or incapacitated adult child, information about any adjudication of incapacity for such child,[...]

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SCS/SB 1235 - Current law provides that a trustee may invest and reinvest trust assets in securities or obligations of any state or its political subdivisions, including securities that are underwritten by the trustee or an affiliate thereof. This act provides that in addition to the authority in current law, the trustee may invest trust assets in U.S. government obligations or other interests in any open-end or closed-end management investment company or investment trust registered under federal law, including but not limited to U.S. government obligations or repurchase agreements collateralized by such obligations, notwithstanding that the provided that the governing instrument or order requires or permits investment in U.S. government obligations, and provided that the portfolio of the investment company or investment trust is limited to U.S. government obligations and to repurchase agreements fully collateralized by such obligations, and provided that the investment company or trust [...]

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SCS/SB 1235 - Current law provides that a trustee may invest and reinvest trust assets in securities or obligations of any state or its political subdivisions, including securities that are underwritten by the trustee or an affiliate thereof. This act provides that in addition to the authority in current law, the trustee may invest trust assets in U.S. government obligations or other interests in any open-end or closed-end management investment company or investment trust registered under federal law, including but not limited to U.S. government obligations or repurchase agreements collateralized by such obligations, notwithstanding that the provided that the governing instrument or order requires or permits investment in U.S. government obligations, and provided that the portfolio of the investment company or investment trust is limited to U.S. government obligations and to repurchase agreements fully collateralized by such obligations, and provided that the investment company or trust [...]

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Sb 745 - This act provides that a custodial parent may designate a person to act as a standby guardian of their minor child or incapacitated adult child by a will or by a separate written instrument. If a parent who has designated a standby guardian is or becomes seriously ill, the parent or designated standby guardian may file a petition in probate court seeking appointment of the person as the standby guardian of the minor child or incapacitated adult child. The petition must be filed with a copy of the will or instrument designating the standby guardian, with consent to act as standby guardian by the person so designated. The petition also must contain certain identifying and contact information for the minor or incapacitated adult child, the custodial parent and designated standby guardian, each parent of the minor or incapacitated adult child, the spouse and all living children of the minor or incapacitated adult child, information about any adjudication of incapacity for such child,[...]

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