An increasingly common technique used in trusts is to designate a trust protector. A trust protector is different than the settlor, trustee and beneficiary. Because the trust protector concept is relatively new, there has been uncertainty regarding the trust protector’s authority in trust administration, litigation and breach of trust suits. To address this uncertainty, Missouri…
Legal Articles
Modification of Trust Because of Unanticipated Circumstances
Under Section 456.4-412, RSMo, the Court may modify an irrevocable trust if, because of circumstances not anticipated by the settlor/trust-maker, the modification or termination will further the purposes of the trust. This statute obviously adds great flexibility to the Court’s ability to change the terms of a trust. This was largely in response to situations…