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Modifying Irrevocable Trusts by Consent

When Missouri updated its trust laws in around 2005, several statutes were added that permitted irrevocable trusts to be modified. An irrevocable trust, as the name suggests, is generally not subject to amendment or change. Most revocable trusts become irrevocable and not subject to change after the settlor/trust-maker dies. The problem is that many irrevocable […]

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Trust Assets in a Divorce

When dividing marital property in a divorce, the court is to consider the factors set forth in Section 452.330, RSMo and then divide the property in such a way that it seems just. Workman v. Workman, 293 S.W.3d 89, 96 (Mo. Ct. App. 2009). A court generally has “great flexibility” in dividing the marital property. Shepard v. […]

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Family Trusts

“Family trust” is the general term given to a revocable or irrevocable trust which is in place for the benefit of all or certain members of a family. In some older trusts, it may be called a “residuary trust” depending on how the rest of the trust instrument is structured, but it is typically the […]

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Statutory Breach of Trusts of Revocable/Irrevocable Trusts

In a trust relationship, the trustee is the individual/entity who is entrusted with managing the assets in the beneficiaries’ best interests.  A breach of trust, therefore, is a violation by a trustee of a duty the trustee owes to a beneficiary. While a trust may alter the scope of what duties a trustee owes, generally a trustee will […]

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