Mo. Rev. Stat. § 404.005
Law, how cited
Sections 404.005 to 404.094 may be cited as the "Missouri Transfers to Minors Law".
Revised Statutes of Missouri Chapter 404 — Transfers to Minors — Personal Custodian and Durable Power of Attorney
Missouri · statute · Mo. Rev. Stat. ch. 404 · 89 active provisions
Mo. Rev. Stat. § 404.007
Definitions
As used in sections 404.005 to 404.094, unless the context otherwise requires, the following terms shall mean: (1) "Adult", an individual who has attained the age of twenty-one years, notwithstanding that an individual may be an adult at a different age under other laws of this state; (2) "Benefit plan", any plan, cont…
Mo. Rev. Stat. § 404.011
Transfer of property to a minor by transferring to a custodian, effect — power limitations
Property may be transferred to a person, who is a minor on the date of the transfer, by transferring the property to a custodian for the minor under sections 404.005 to 404.094.
Mo. Rev. Stat. § 404.014
Present transfer of property, effect
A present transfer of property to a custodian for a minor, made by a transferor in the manner prescribed in subdivisions (1), (2), (3) and (5) of subsection 1 of section 404.047, is irrevocable and indefeasibly vests ownership of the property in the minor subject to the custodianship provided in sections 404.005 to 404…
Mo. Rev. Stat. § 404.016
Future transfers of property are revocable by donor, exception
A provision in a will, trust, power of appointment, benefit plan, life or endowment insurance policy, annuity or other contract, or a pay or transfer on death direction, for a transfer of property to be made in the future to a custodian for a minor, made by a donor in the manner prescribed in subdivision (4) of subsect…
Mo. Rev. Stat. § 404.018
Custodian and third persons dealing with custodian, powers, duties, immunities
By transferring property to a custodian for a minor under sections 404.005 to 404.094, the transferor incorporates in the transfer all the provisions of sections 404.005 to 404.094 and grants to the custodian and third persons dealing with the custodian the respective powers, rights and immunities provided in sections…
Mo. Rev. Stat. § 404.021
Single custodianship — but custodian may serve more than one minor
A transfer of property under sections 404.005 to 404.094 may be made to only one minor and only one person may be custodian of the property transferred. A person may be a custodian of property for more than one minor, but the custodian shall separately hold and administer the custodial property for each minor.
Mo. Rev. Stat. § 404.023
Custodians for present transfers of property, who may serve
A donor making a present transfer of property to a minor may designate and transfer the property to any adult person or financial institution, including the donor, as custodian for the minor under sections 404.005 to 404.094.
Mo. Rev. Stat. § 404.027
Custodians for future transfers, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation
1. A donor making a future transfer of property to a beneficiary under a will, trust, deed, power of appointment, benefit plan, life or endowment insurance policy, annuity or other contract, or a pay or transfer on death direction, may revocably designate, or grant to another person a general or limited power to revoca…
Mo. Rev. Stat. § 404.031
Custodian if no appointed conservator, who may serve — approval of court required when — bond required when — court's powers
1. If there is no appointed conservator for administration of a minor's estate, any person indebted to a minor, including a personal representative, trustee, benefit plan, insurance company, agency of any state or of the United States, or any person holding property belonging to a minor, not having a power from a donor…
Mo. Rev. Stat. § 404.035
Qualifications of custodians — transfers to persons not qualified, effect
An adult person or financial institution shall not be qualified to be designated custodian for property of a minor who is a resident of this state if the person or financial institution is not qualified to be appointed conservator of the estate of the minor under subsection 2 of section 475.055 or if the financial inst…
Mo. Rev. Stat. § 404.041
Additional property of minor transferred to custodian, when — guardian or conservator appointed by court may serve as custodian, when — custodian's rights in other property of minor
1. When a custodianship has been established for a minor, the court may authorize the custodian to accept and receive into the custodianship any additional property that belongs to the minor, with or without bond and with or without court supervision, upon such terms and conditions as the court may require. 2. If the c…
Mo. Rev. Stat. § 404.047
Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release
1. The designation of a custodian and transfer of property to the custodian shall be made in the following manner: (1) If the subject of the custodianship is property for which a conveyance is filed with a recorder of deeds, property for which a certificate of ownership or similar title instrument is issued by an agenc…
Mo. Rev. Stat. § 404.049
Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to
1. A custodianship for a minor shall be treated as a custodial trust for a minor whenever property is transferred to any adult person or financial institution followed in substance with the words "as custodial trustee for ______ (name of minor) under the Missouri Transfers to Minors Law". 2. When property is placed in…
Mo. Rev. Stat. § 404.051
Powers of custodian, limitation — termination of custodianship, when, procedure — degree of care required for custodial property
1. The custodian shall collect, hold, maintain, manage, invest and reinvest the custodial property. The custodian may accept a transfer of additional property for the same minor into the custodianship and may consolidate into a single custodianship custodial property received for the same minor from multiple transfers…
Mo. Rev. Stat. § 404.054
Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property
1. A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. 2. A custodian who is not a donor may each year elect to receive from the custodial property reasonable compensation for services as custodian. If an election is not affirma…
Mo. Rev. Stat. § 404.057
Successor custodian designation on renunciation, resignation, death, incapacity, nonresident minor or removal of custodian
1. A person designated as a custodian may decline to serve by delivering a written renunciation to the person who made the designation or to the transferor or the transferor's legal representative. If at the time of the transfer there is no substitute custodian who is able and willing to serve as custodian, the person…
Mo. Rev. Stat. § 404.061
Exemption of third person from liability
A third person, including an issuer of securities, transfer agent, financial institution, broker, life insurance company, benefit plan, personal representative, or trustee, in good faith and without court order, may act on the instructions of or otherwise deal with any person purporting to make a transfer under section…
Mo. Rev. Stat. § 404.067
Liability to third persons
1. A claim based on: (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the cu…
Mo. Rev. Stat. § 404.071
Accounting by and determination of liability of custodian — time limitations for minor bringing action
1. A minor who has attained the age of fourteen years, the minor's legal representative, an adult member of the minor's family, a person interested in the welfare of the minor, a transferor, a transferor's legal representative, a successor custodian, or a person who designated the custodian, may petition the court for…
Mo. Rev. Stat. § 404.077
Effect on prior existing custodianship
Any transfer of property to a custodian, or designation of a custodian for property to be transferred in the future as now permitted in sections 404.005 to 404.094, purporting to have been made before September 28, 1985, is validated notwithstanding that there was no specific authority in the Missouri uniform gifts to…
Mo. Rev. Stat. § 404.081
Uniformity of application and construction — not to be exclusive method of transferring property to a minor
1. Sections 404.005 to 404.094 shall be applied and construed to effectuate their general purpose to make uniform the law with respect to the subject of sections 404.005 to 404.094 among states enacting a similar law. 2. Sections 404.005 to 404.094 shall not be construed as providing an exclusive method of transferring…
Mo. Rev. Stat. § 404.087
Repeal of uniform gifts to minors not to affect transfers — use of word custodian, how defined
1. The repeal of the Missouri uniform gifts to minors law, sections 404.010 to 404.100, shall not affect transfers made in a manner prescribed in sections 404.010 to 404.100, nor the powers, duties and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians. The provisions o…
Mo. Rev. Stat. § 404.091
Jurisdiction for transfers to minors and custodianship to be probate division of circuit court, procedure — appointment of guardian or conservator, court may specify duties
1. The probate division of the circuit court may hear and determine all matters pertaining to custodians for minors and the administration of minor custodianships under sections 404.005 to 404.094 of this act*, the uniform gifts to minors law and the uniform transfers to minors law. 2. The provisions of chapter 472 app…
Mo. Rev. Stat. § 404.093
Conflicts of interest — guardian or conservator ad litem appointed, when, compensation
1. Notwithstanding any other provision of law, if it is suggested in a petition filed by the minor, a creditor, a person interested in the welfare of the minor, or other interested person, including a member of the minor's family who may have a property right or claim against or an expectancy, reversionary or other int…
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