Section 48 Subdivision (1)

• Library: Trust and Estate Legislation 2012

The second trust may have as beneficiaries only one or more of those beneficiaries of the first trust to or for whom any discretionary distribution may be made from the first trust and who are proper objects of the exercise of the power, or one or more of those other beneficiaries of the first trust to or for whom a distribution of income or principal may have been made in the future from the first trust at a time or upon the happening of an event specified under the first trust;

Section 456.4-419.2(1), RSMo Supp. 2011.

This section delineates just who can be beneficiaries of the second trust, the trust into which the trustee would decant funds from the first trust. It does so by creating two sets of possible beneficiaries, sets that are separated by the disjunctive “or” after the word “power.” Preceding the word “or” is a phrase describing the trust’s current beneficiaries; following the “or” is a phrase describing the...