456.7-709. Reimbursement of expenses. - Missouri Statutes

Reimbursement of expenses.

456.7-709. 1. A trustee is entitled to be reimbursed out of thetrust property, with interest as appropriate, for:

(1) expenses that were properly incurred in the administration of thetrust; and

(2) to the extent necessary to prevent unjust enrichment of thetrust, expenses that were not properly incurred in the administration ofthe trust.

2. An advance by the trustee of money for the protection of the trustgives rise to a lien against trust property to secure reimbursement withreasonable interest.

(L. 2004 H.B. 1511)

Effective 1-01-05