Missouri HB3246 modifies the Principal and Income Act to align with the Uniform Fiduciary Income and Principal Act.
Missouri HB3246 revises the Principal and Income Act to conform with the Uniform Fiduciary Income and Principal Act. The bill updates definitions and provisions related to fiduciary duties, unitrust policies, and the administration of trusts and estates. It includes changes to the allocation of income and principal, the handling of depreciation, and the management of endowed care trust funds. The bill also specifies rules for the administration of trusts, including the duties of trustees and the powers of fiduciaries.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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