Section 12.29 Termination on Death of Beneficiary Under the Missouri Personal Custodian Law

• Library: Trusts and Powers 2013 Supp

B. (§12.29) Termination on Death of Beneficiary Under the Missouri Personal Custodian Law

If the beneficiary dies during administration of a personal custodianship, the personal custodian is obligated to deliver the custodial property to the deceased beneficiary’s estate under § 404.560.1(2), RSMo 2000, unless the beneficiary has given the custodian a transfer on death (TOD) direction under § 404.560.2(3). A TOD direction is nothing more than the dispositive provisions of an inter vivos trust or will delivered to the personal custodian before death. It must be:

· in writing;

· signed by the beneficiary;

· dated; and

· acknowledged before a notary public.

Id. The beneficiary at the time of execution and delivery to the personal custodian must be competent to execute a will. Section 404.560.2. Witnesses and...