404.727. Accounting, determination of disability, modification and termination, limitation or removal of attorney in fact and limitations for principal to bring actions.

MISSOURI STATUTES AND CODES

404.727. Accounting, determination of disability, modification and termination, limitation or removal of attorney in fact and limitations for principal to bring actions.

Accounting, determination of disability, modification and termination,limitation or removal of attorney in fact and limitations forprincipal to bring actions.

404.727. 1. The principal may petition the court for an accountingby the principal's attorney in fact or the legal representative of theattorney in fact. If the principal is disabled, incapacitated or deceased,a petition for accounting may be filed by the principal's legalrepresentative, an adult member of the principal's family or any personinterested in the welfare of the principal.

2. Any requirement for an accounting may be waived or an accountingmay be approved by the court without hearing, if the accounting is waivedor approved by a principal who is not disabled, or by a principal whoselegal capacity has been restored, or by all creditors and distributees of adeceased principal's estate whose claims or distributions theretofore havenot been satisfied in full. The approval or waiver shall be in writing,signed by the affected persons and filed with the court.

3. For the purposes of subsection 2 of this section, a legalrepresentative or a person providing services to the principal's estateshall not be considered a creditor of the principal's estate; and noexpress approval or waiver shall be required from the legal representativeof a disabled or incapacitated principal if the principal's legal capacityhas been restored, or from the personal representative of a deceasedprincipal's estate, or from any other person entitled to compensation orexpense for services rendered to a disabled, incapacitated or deceasedprincipal's estate, unless the principal or the principal's estate isunable to pay in full the compensation and expense to which the personrendering the services may be entitled.

4. The principal, the principal's attorney in fact, an adult memberof the principal's family or any person interested in the welfare of theprincipal may petition the probate division of the circuit court in thecounty or city where the principal is then residing to determine anddeclare whether a principal, who has executed a power of attorney, is adisabled or incapacitated person.

5. If the principal is a disabled or incapacitated person, onpetition of the principal's legal representative, an adult member of theprincipal's family or any interested person, including a person interestedin the welfare of the principal, for good cause shown the court, may:

(1) Order the attorney in fact to exercise or refrain from exercisingauthority in a durable power of attorney in a particular manner or for aparticular purpose;

(2) Modify the authority of an attorney in fact under a durable powerof attorney;

(3) Declare suspended a power of attorney that is not durable;

(4) Terminate a durable power of attorney;

(5) Remove the attorney in fact under a durable power of attorney;

(6) Confirm the authority of an attorney in fact or a successorattorney in fact to act under a durable power of attorney; and

(7) Issue such other orders as the court finds will be in the bestinterest of the disabled or incapacitated principal, including appointmentof a guardian or conservator for the principal.

6. If, after notice and hearing, the court determines that there hasbeen a prima facie showing that the principal is a disabled orincapacitated person and that the attorney in fact has breached hisfiduciary duty to the principal or that there is a reasonable likelihoodthat he may do so in the immediate future, the court may, in itsdiscretion, issue an order that some or all of the authority granted by thepower of attorney be suspended or modified, and that a different attorneyin fact be authorized to exercise some or all of the powers granted by thepower of attorney. Such attorney in fact may be designated by the court.The court may require any person petitioning for any such order to file abond in such amount and with such sureties as required by the court toindemnify either the attorney in fact who has been acting on behalf of theprincipal or the principal and the principal's successors in interest forthe expenses, including attorney's fees, incurred by any such persons withrespect to such proceeding. The court may, after hearing, allow payment orenter judgment for any such amount in the manner as provided by subsection6 of section 404.731. None of the actions described in this subsectionshall be taken by the court until after hearing upon reasonable notice toall persons identified in a verified statement supplied by the petitionerwho is requesting such action identifying the immediate relatives of theprincipal and any other persons known to the petitioner to be interested inthe welfare of the principal; except that in the event of an emergency asdetermined by the court, the court may, without notice, enter suchtemporary order as seems proper to the court, but no such temporary ordershall be effective for more than thirty days unless extended by the courtafter hearing on reasonable notice to the persons identified as hereinprovided.

7. If a power of attorney is suspended or terminated by the court orthe attorney in fact is removed by the court, the court may require anaccounting from the attorney in fact and order delivery of any propertybelonging to the principal and copies of any necessary records of theattorney in fact concerning the principal's property and affairs to asuccessor attorney in fact or the principal's legal representative.

8. In a proceeding under sections 404.700 to 404.735 or in any otherproceeding, or upon petition of an attorney in fact or successor, the courtmay:

(1) Require or permit an attorney in fact under a durable power ofattorney to account;

(2) Authorize the attorney in fact under a durable power of attorneyto enter into any transaction, or approve, ratify, confirm and validate anytransaction entered into by the attorney in fact that the court finds is,was or will be beneficial to the principal and which the court has power toauthorize for a guardian or conservator under chapter 475, RSMo; and

(3) Relieve the attorney in fact of any obligation to exerciseauthority for a disabled or incapacitated principal under a durable powerof attorney.

9. Unless previously barred by adjudication, consent or limitation,any cause of action against an attorney in fact or successor for breach ofduty to the principal shall be barred as to any principal who has receivedan account or other statement fully disclosing the matter unless aproceeding to assert the cause of action is commenced within two yearsafter receipt of the account or statement by him or, if the principal is adisabled or incapacitated person, by a guardian or conservator of hisestate; provided that, if a disabled or incapacitated person has noguardian or conservator of his estate at the time an account or statementis presented, then the cause of action shall not be barred until one yearafter the removal of the principal's disability or incapacity, one yearafter the appointment of a conservator for the principal, or one year afterthe death of the principal. The cause of action thus barred does notinclude any action to recover from an attorney in fact or successor forfraud, misrepresentation or concealment related to the settlement of anytransaction involving the agency relationship of the attorney in fact withthe principal.