456.5-504. Discretionary trusts, interest not enforceable, when--applicability--effect of standard. - Missouri Statutes

Discretionary trusts, interest not enforceable,when--applicability--effect of standard.

456.5-504. 1. A beneficiary's interest in a trust that is subject tothe trustee's discretion does not constitute an interest in property or anenforceable right even if the discretion is expressed in the form of astandard of distribution or the beneficiary is then serving as a trustee orcotrustee. A creditor or other claimant may not attach present or futuredistributions from such an interest or right, obtain an order from a courtforcing the judicial sale of the interest or compelling the trustee to makedistributions, or reach the interest or right by any other means, even ifthe trustee has abused the trustee's discretion.

2. This section does not limit the right of a beneficiary to maintaina judicial proceeding against a trustee for an abuse of discretion orfailure to comply with a standard for distribution.

3. This section applies whether or not an interest is subject to aspendthrift provision.

4. For purposes of this section, a beneficiary's interest in a trustis subject to the trustee's discretion if that interest does not constitutea mandatory distribution as defined in subsection 1 of section 456.5-506.

(L. 2004 H.B. 1511, A.L. 2006 S.B. 892)