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Current as of January 01, 2023 | Updated by FindLaw Staff
Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, stock certificate, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust agreement, declaration of trust, conveyance or any other written instrument effective as a contract, gift, conveyance, or trust or to evidence ownership of property is deemed to be nontestamentary, and exempt from the requirements of section 473.087 and section 474.320:
(1) That money or other benefits theretofore due to, controlled or owned by a decedent shall be paid after the decedent's death to a person or persons designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently;
(2) That any money due or to become due under the instrument shall cease to be payable in event of the death of the promisee or the promisor before payment or demand;
(3) That any property which is the subject of the instrument shall pass on decedent's death to a person or persons designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently;
(4) Except to the extent specifically excluded thereunder, sections 461.003 to 461.081 apply to transfers under this section.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXXI. Trusts and Estates of Decedents and Persons Under Disability § 461.001. Transfers on death, certain provisions deemed nontestamentary, exceptions - last updated January 01, 2023 | https://codes.findlaw.com/mo/title-xxxi-trusts-and-estates-of-decedents-and-persons-under-disability/mo-rev-st-461-001/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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