456.001. Bequests or transfer to spouse, valuation of.

MISSOURI STATUTES AND CODES

456.001. Bequests or transfer to spouse, valuation of.

Bequests or transfer to spouse, valuation of.

456.001. 1. If an instrument providing for a pecuniary bequest ortransfer to or for the benefit of the spouse of the testator or transferorrequires or permits the satisfaction of such bequest or transfer wholly orpartly by the distribution of property valued at some date or on some basisother than its fair market value at the time of distribution, and does notrequire that such bequest or transfer be satisfied by the distribution ofassets, including cash, having an aggregate fair market value on the dateor dates of distribution amounting to no less than the amount of suchbequest or transfer, then in such case, the provisions of the instrumentnotwithstanding, any property distributed in satisfaction of such bequestor transfer shall have an aggregate fair market value on the date ofdistribution fairly reflecting the distributee's proportionate share of theappreciation or depreciation in value to the date of distribution of allproperty then available for distribution.

2. If, in any instrument which provides for a pecuniary bequest ortransfer, the personal representative or trustee is empowered to satisfysuch bequest or transfer by distribution of property in kind, and theinstrument is silent as to the value to be given to property distributed inkind, any property distributed in satisfaction of the bequest or transfershall be valued at the fair market value thereof on the date ofdistribution.

3. The phrase "pecuniary bequest or transfer", as used in thissection, means a bequest or transfer either in a stated amount or in anamount determined by the use of a formula.

4. This section shall be effective with respect to wills andrevocable inter vivos trusts executed or created before or after October13, 1969, by persons who die on or after said date, and to irrevocableinter vivos trusts which are created on or after October 13, 1969.