456.590. Power of court to permit deviations or vary terms. - Missouri Statutes

Power of court to permit deviations or vary terms.

456.590. 1. Where, in the management or administration ofany property vested in trustees, any sale, lease, mortgage,surrender, release, or other disposition, or any purchase,investment, acquisition, expenditure, or other transaction is inthe opinion of the court expedient, but the same cannot beeffected by reason of the absence of any power for that purposevested in the trustees by the trust instrument, if any, or bylaw, the court may by order confer upon the trustees, eithergenerally or in any particular instance, the necessary power forthe purpose, on such terms, and subject to such provisions andconditions, if any, as the court may think fit and may direct inwhat manner any money authorized to be expended, and the costs ofany transaction, are to be paid or borne as between capital andincome.

2. When all of the adult beneficiaries who are not disabledconsent, the court may, upon finding that such variation willbenefit the disabled, minor, unborn and unascertainedbeneficiaries, vary the terms of a private trust so as to reduceor eliminate the interests of some beneficiaries and increasethose of others, to change the times or amounts of payments anddistributions to beneficiaries, or to provide for termination ofthe trust at a time earlier or later than that specified by theterms.

3. The court may, from time to time, rescind or vary anyorder made under this section, or may make any new or furtherorder.

4. An application to the court under this section may bemade by the trustees, or by any of them, or by any personbeneficially interested under the trust.

(L. 1983 H.B. 117)

CROSS REFERENCE:

Modification or termination of noncharitable irrevocable trust, uniform trust code, RSMo 456.4B-411