Section 12.9 Effect of Creating Personal Custodianship
| Library | Trusts and Powers 2013 Supp |
B. (§12.9) Effect of Creating Personal Custodianship
The legal effect of creating a personal custodianship is to appoint an agent to manage the property. If the custodianship is created by the property owner, ownership of the property remains indefeasibly vested in the owner as beneficiary of the personal custodianship. Section 404.420.1, RSMo 2000. If the personal custodianship is created for another by a donor or by a person indebted to the beneficiary, the transfer of property to a personal custodian is...
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