Legislation Sponsored by Sen. Keaveny Signed by Governor

JEFFERSON CITY — Legislation sponsored by State Sen. Joseph Keaveny’s, D-St. Louis, was signed by the governor. Senate Bill 500, in relation to trusts will become effective Aug. 28.

“This is very beneficial legislation that I have worked on with the Missouri Bar’s Trust and Probate Committee,” Sen. Keaveny said. “This legislation will make it easier for people navigating legal trusts for themselves or families.”

This measure contains three trust provisions, including:

• Joint ownership with a right of survivorship into a qualified spousal trust;

• When an irrevocable trust contains a no-contest clause, an interested person may still file a petition with a court for a ruling on whether a particular claim for relief would trigger forfeiture; and

• A provision in a trust instrument requiring mediation or arbitration is enforceable.

 
For more information regarding his sponsored legislation, contact Sen. Keaveny’s Capitol office at (573) 751-3599 or follow the legislation online at www.senate.mo.gov/keaveny.