Chapter 10 Trusts and Estates

• Library: Time Limitations 2010

I. Trusts and Estates of Decedents and Persons Under Disability
(Sections 456.1-108-475.430)

+----------------+--------------------------------+--------------------------------+---------------------------------+
                | Statuteor Rule| Action, Event,or Proceeding | TimeLimit | ComputedFrom |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | I. Trusts and Estates of Decedents and Persons Under Disability (Sections 456.1-108 - 475.430) Missouri Uniform Trust Code - General Provisions |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.1-108 .3 | Notice to qualified beneficiar-| At least 60 days before | Initiating transfer |
                | | ies of proposed transfer of pr-| | |
                | | incipal place of administratio-| | |
                | | n | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Missouri Uniform Trust Code - Creation, Validity, Modification, and Termination of Trust |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.4-409 | Enforcement of trust without c-| Not more than 21 years | |
                | | haritable purpose or definite | | |
                | | or definitely ascertainable be-| | |
                | | neficiary | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Missouri Uniform Trust Code - Qualified Remainder Beneficiary Distributions |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.4-418 .5 | Trustee to notify qualified be-| At least 60 days before | Making distribution to qualifi- |
                | | neficiaries that distribution | | ed remainder beneficiary |
                | | may be made to qualified remai-| | |
                | | nder beneficiary under require-| | |
                | | ments of statute | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Missouri Uniform Trust Code - Creditors' Claims |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.5-505 .4 | Notice in county newspaper of | Once a week for 4 consecutive | |
                | | trustee's authority to pay dec-| weeks | |
                | | edent's debts | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | 456.5-505 .4(1)| Presentation of debts to trust-| Within 6 months after | Date of first publication of n- |
                | | ee | | otice |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Or forever barred. |
                +--------------------------------------------------------------------------------------------------------------------+
                | |
                +--------------------------------------------------------------------------------------------------------------------+
                | Missouri Uniform Trust Code - Revocable Trusts |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.6-604 .1 | Commencement of judicial proce-| Within 2 years after | Settlor's death |
                | | eding to contest validity of r-| | |
                | | evocable trust | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Or within 6 months after trustee sent person notice of trust, or (when trust |
                | is entitled to distribution under settlor's will) by date that will contest is barred (if copy of t- |
                | rust is filed with probate division within 90 days of first publication of notice of granting of let- |
                | ters), whichever is earliest. |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.6-604 .3(2)| Commencement of trust contest | Within 60 days after | Notification sent to trustee |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Or trustee is not liable for distributing trust unless trustee otherwise kno- |
                | ws of pending trust contest. |
                +--------------------------------------------------------------------------------------------------------------------+
                | Missouri Uniform Trust Code - Office of Trustee |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.7-705 .1 | Notice to beneficiaries, settl-| At least 30 days before | Resignation |
                | | or, and cotrustees of trustee'-| | |
                | | s resignation | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Or trustee may resign with court's approval. |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.7-706 .2(4)| Trustee's reinstatment of prev-| Within 90 days after | Receipt of notice |
                | | ious level of services provide-| | |
                | | d to trust | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Failure may result in court's removal of trustee. |
                +--------------------------------------------------------------------------------------------------------------------+
                | Missouri Uniform Trust Code - Duties and Powers of Trustee |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.8-802 .6(3)| Notice of method of compensati-| At least annually | |
                | | on for investment services | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | 456.8-813 .2(2)| Notice to beneficiaries of tru-| Within 60 days after | Acceptance |
                | | stee's acceptance of trusteesh-| | |
                | | ip | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | 456.8-813 .2(3)| Notice to beneficiaries of tru-| Within 60 days after | Trustee acquires knowledge of |
                | | st's existence | | irrevocable trust |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | 456.8-813 .2(4)| Notice to beneficiaries of cha-| In advance of | Change |
                | | nge in method or rate of trust-| | |
                | | ee's compensation | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | 456.8-813 .3 | Trustee's report to permissibl-| At least annually | |
                | | e distributees | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: And upon termination of trust. |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.8-817 .1 | Beneficiary's objection to pro-| Within 30 days after | Distribution proposal is sent |
                | | posed distribution | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | | | | |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Missouri Uniform Trust Code - Liability of Trustee and Rights of Persons Dealing With Trustee |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.10-1005.1 | Commencement of proceeding aga-| Within 1 year after | Date beneficiary was sent repo- |
                | | inst trustee for breach of tru-| | rt disclosing existence of pot- |
                | | st | | ential claim |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Or date trustee informed beneficiary of time allowed for commencing proceeding with |
                | respect to any potential claim disclosed on report, whichever occurred later. If subsection 1 does n- |
                | ot apply, action must be commenced within 5 years after removal, resignation, or death of trustee; t- |
                | ermination of beneficiary's interest; or termination of trust, whichever occurs first. |
                +--------------------------------------------------------------------------------------------------------------------+
                | Trusts and Trustees - Trustee's Powers, Duties, and Liabilities |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.035 .3 | Presumption of death | 5 years after | Last heard from |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Death of absent person presumed at end of period. |
                +--------------------------------------------------------------------------------------------------------------------+
                | 456.037 .2 | Trust property deemed unclaime-| 3 years after | Attempt to notify trust benefi- |
                | | d | | ciary |
                +----------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Applicable only where beneficiary identified. Unclaimed property can escheat. See Se- |
                | c. 456.650. |
                +--------------------------------------------------------------------------------------------------------------------+
                | Non-Probate Transfers |
                +--------------------------------------------------------------------------------------------------------------------+
                | 461.300 .2 | Action for accounting of recov-| Within 18 months after | Decedent's death |
                | | erable transfer of decedent's | | |
                | | property | | |

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