Read 1st time January 17, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To repeal section 475.094, RSMo 1994, relating to probate estates, and to enact in lieu thereof one new section relating to the same subject.
Section A. Section 475.094, RSMo 1994, is repealed and one new section enacted in lieu thereof, to be known as section 475.094, to read as follows:
475.094. If the court determines and enters a finding that a permanently totally mentally disabled protectee's estate would
be [substantially depleted] reduced upon his or her death by the payment of federal estate taxes, the court [is hereby
empowered:] may authorize or direct the conservator to exercise or release powers of appointment, to change the
beneficiaries and elect options under insurance and annuity policies, to make gifts to the natural objects of the protectee's
bounty[,] or charities, to create trusts with charitable beneficiaries or remaindermen to convey or release his or her
contingent and expectant interests in property including marital property rights and any right of survivorship incident to
joint tenancy or tenancy by the entirety, to surrender insurance or annuity policies for their cash values, to exercise his or
her right to an elective share in the estate of his or her deceased spouse, and to [renounce] disclaim any interest by
testate or intestate succession or by inter vivos transfer, if such act or acts will not [deplete the protectee's estate so as to]
impair the conservator's ability to provide for the protectee's foreseeable lifetime needs[, and if such act will cause
financial benefits to inure solely to the natural objects of the protectee's bounty]. Such act or acts shall be undertaken [by
the court] only to the extent that [it] such act or acts will result in a [substantial] saving of federal estate tax for the estate
of the disabled protectee upon his or her death.
Missouri House of Representatives