Section 4.2 Missouri’s Principal and Income Act
| Library | Trusts and Powers 2013 Supp |
II. (§4.2) Missouri’s Principal and Income Act
Missouri’s Principal and Income Act (the Act), §§ 469.401–469.467, RSMo Supp. 2005, applies to trusts and estates governed by Missouri law. The focus of the Act is to allocate receipts and disbursements between principal and income with respect to any matter within its scope. A trustee’s responsibilities as set forth in the Act are as follows:
A trustee must administer a trust under the terms of the governing document even if those terms are different than...
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