To repeal sections 214.270, 362.119, 473.020, 473.033, 473.050, 473.070, 473.090, 473.093, 473.097, 473.213, 473.360, 473.433, 473.543, 473.657, 473.663, 473.823, 473.840, 474.010, 474.250, 474.260, 474.290, 474.333 and 537.021, RSMo 1994, relating to the administration of estates, and to enact twenty-four new sections relating to the same subject, with an emergency clause.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF MISSOURI, AS FOLLOWS:

Section A. Sections 214.270, 362.119, 473.020, 473.033, 473.050, 473.070, 473.090, 473.093, 473.097, 473.213, 473.360, 473.433, 473.543, 473.657, 473.663, 473.823, 473.840, 474.010, 474.250, 474.260, 474.290, 474.333, and 537.021, RSMo 1994, are repealed and twenty-four new sections enacted in lieu thereof, to be known as sections 214.270, 362.119, 473.020, 473.033, 473.050, 473.070, 473.090, 473.092, 473.097, 473.213, 473.360, 473.433, 473.543, 473.657, 473.663, 473.823, 473.840, 474.010, 474.250, 474.260, 474.290, 474.333, 537.021, and 1, to read as follows:

214.270. As used in sections 214.270 to 214.410, the following terms mean:

(1) "Agent" or "authorized agent", any person empowered by the cemetery operator to represent the operator in dealing with the general public, including owners of the burial space in the cemetery;

(2) "Burial space", one or more than one plot, grave, mausoleum, crypt, lawn, surface lawn crypt, niche or space used or intended for the interment of the human dead;

(3) "Cemetery", property restricted in use for the interment of the human dead by formal dedication or reservation by deed but shall not include any of the foregoing held or operated by the state or federal government or any political subdivision thereof, any incorporated city or town, any county or any religious organization, cemetery association or fraternal society holding the same for sale solely to members and their immediate families;

(4) "Cemetery association", any number of persons who shall have associated themselves by articles of agreement in writing as a not for profit association or organization, whether incorporated or unincorporated, formed for the purpose of ownership, preservation, care, maintenance, adornment and administration of a cemetery. Cemetery associations shall be governed by a board of directors. Directors and director's family within the third degree of affinity or consanquinity shall not be employed by the cemetery association. Directors shall serve without compensation;

[(4)] (5) "Cemetery operator" or "operator", any person who owns, controls, operates or manages a cemetery;

[(5)] (6) "Columbarium", a building or structure for the inurnment of cremated human remains;

[(6)] (7) "Community mausoleum", a mausoleum containing a substantial area of enclosed space and having either a heating, ventilating or air conditioning system;

[(7)] (8) "Department", department of economic development;

[(8)] (9) "Developed acreage", the area which has been platted into grave spaces and has been developed with roads, paths, features, or ornamentations and in which burials can be made;

[(9)] (10) "Director", director of the division of professional registration;

[(10)] (11) "Division", division of professional registration;

[(11)] (12) "Endowed care", the maintenance, repair and care of all burial space subject to the endowment within a cemetery, including any improvements made for the benefit of such burial space. Endowed care shall include the general overhead expenses needed to accomplish such maintenance, repair, care and improvements. Endowed care shall include the terms perpetual care, permanent care, continual care, eternal care, care of duration, or any like term;

[(12)] (13) "Endowed care cemetery", a cemetery, or a section of a cemetery, which represents itself as offering endowed care and which complies with the provisions of sections 214.270 to 214.410;

[(13)] (14) "Endowed care fund", "endowed care trust", or "trust", any cash or cash equivalent, to include any income therefrom, impressed with a trust by the terms of any gift, grant, contribution, payment, devise or bequest to an endowed care cemetery, or its endowed care trust, or funds to be delivered to an endowed care cemetery's trust received pursuant to a contract and accepted by any endowed care cemetery operator or his agent. This definition includes the terms endowed care funds, maintenance funds, memorial care funds, perpetual care funds, or any like term;

[(14)] (15) "Family burial ground", a cemetery in which no burial space is sold to the public and in which interments are restricted to persons related by blood or marriage;

[(15)] (16) "Fraternal cemetery", a cemetery owned, operated, controlled or managed by any fraternal organization or auxiliary organizations thereof, in which the sale of burial space is restricted solely to its members and their immediate families;

[(16)] (17) "Garden mausoleum", a mausoleum without a substantial area of enclosed space and having its crypt and niche fronts open to the atmosphere. Ventilation of the crypts by forced air or otherwise does not constitute a garden mausoleum as a community mausoleum;

[(17)] (18) "Government cemetery", or "municipal cemetery", a cemetery owned, operated, controlled or managed by the federal government, the state or a political subdivision of the state, including a county or municipality or instrumentality thereof;

[(18)] (19) "Grave" or "plot", a place of ground in a cemetery, used or intended to be used for burial of human remains;

[(19)] (20) "Human remains", the body of a deceased person in any state of decomposition, as well as cremated remains;

[(20)] (21) "Inurnment", placing an urn containing cremated remains in a burial space;

[(21)] (22) "Lawn crypt", a burial vault or other permanent container for a casket which is permanently installed below ground prior to the time of the actual interment. A lawn crypt may permit single or multiple interments in a grave space;

[(22)] (23) "Mausoleum", a structure or building for the entombment of human remains in crypts;

[(23)] (24) "Niche", a space in a columbarium used or intended to be used for inurnment of cremated remains;

[(24)] (25) "Nonendowed care cemetery", or "nonendowed cemetery", a cemetery or a section of a cemetery for which no endowed care fund has been established in accordance with sections 214.270 to 214.410;

[(25)] (26) "Owner of burial space", a person to whom the cemetery operator or his authorized agent has transferred the right of use of burial space;

[(26)] (27) "Person", an individual, corporation, partnership, joint venture, association, trust or any other legal entity;

[(27)] (28) "Registry", the list of cemeteries maintained in the division office for public review. The division may charge a fee for copies of the registry;

[(28)] (29) "Religious cemetery", a cemetery owned, operated, controlled or managed by any church, convention of churches, religious order or affiliated auxiliary thereof in which the sale of burial space is restricted solely to its members and their immediate families;

[(29)] (30) "Surface lawn crypt", a sealed burial chamber whose lid protrudes above the land surface;

[(30)] (31) "Total acreage", the entire tract which is dedicated to or reserved for cemetery purposes;

[(31)] (32) "Trustee of an endowed care fund", the separate legal entity appointed as trustee of an endowed care fund.

362.119. Any bank or trust company organized under the laws of this state may invest not to exceed five percent of its capital [and], surplus and undivided profits in shares of stock in any new or existing trust company or companies if the direct or indirect ownership of a majority of such stock or class of stock in such trust company or companies is restricted to banks authorized to do business in the state of Missouri. For purposes of this section, the term "ownership of a majority of such stock or class of stock" does not mean or infer that such owner or owners have a controlling interest or voting interest in such trust company or companies.

473.020. 1. If no application for letters testamentary or of administration is filed by a person entitled [thereto under] to such letters pursuant to section 473.110 within twenty days after the death of a decedent, then any interested person may [apply to the court of a proper county:

(1) To have decedent's will, if any, admitted to probate, whether the same is in applicant's possession or not, is lost, is destroyed or is without the state;

(2) For the appointment of a personal representative if designated in the will;

(3) For the appointment of a personal representative, if no executor is designated in the will, or if the person so named is disqualified or unsuitable, or refuses to serve, or if there is no will.] petition the probate division of the circuit court which would be the proper venue for the administration of the estate of such decedent for the issuance of letters testamentary or of administration. For purposes of this section, in addition to persons provided for in subdivision (15) of section 472.010, RSMo, any person who has attached a claim supported by an affidavit setting forth the basis upon which such person has a claim against the decedent shall be an interested person.

2. The [application shall state the date of the death of decedent, the place of his residence, the general nature and approximate value of his estate so far as is known, and the names of the persons named as executors or who may be entitled to administer the estate of the decedent. The petition shall be set for hearing within fifteen days and notice thereof shall be served upon the persons allegedly named as executors or entitled to administer within such time as the court requires. After hearing the court may order the issuance of letters testamentary or of administration to the person found by the court entitled thereto and who applies and qualifies therefor within three days, or within such longer time as is allowed by the court, and, in default of application and qualification, to some other person found suitable; or it may enter an order refusing letters on the estate or dismissing the petition.] petition must be filed within one year after the date of death of the decedent and shall include the following:

(1) The decedent s name, the address of the decedent s last residence and the date of death of the decedent;

(2) If a written will of the decedent has been presented for probate, the names and addresses of the personal representatives designated in such will; and

(3) The names, addresses and relationships to the decedent of the decedent s heirs as is known to, or can be reasonably ascertained by, the petitioner.

3. Within fifteen days from the date of filing, the petition shall be set for hearing to determine who should be directed to apply for letters testamentary or of administration, and not to determine the validity of any claim. Notice of the hearing shall be served upon all interested persons in the manner and within such time as directed by the court. Upon hearing of the petition, the court shall enter such order or orders as it deems appropriate, including any of the following:

(1) An order directing the person found by the court to be entitled to the issuance of letters testamentary or of administration to apply for and qualify for such letters within such time as is allowed by the court, and in default of such timely application and qualification, upon application, the court shall issue letters of administration to some other person found suitable by the court;

(2) An order refusing letters on the estate; or

(3) An order dismissing the petition.

473.033. The clerk, as soon as letters testamentary or of administration are issued, shall cause to be published in some newspaper a notice of the appointment of the personal representative, in which shall be included a notice to creditors of the decedent to file their claims in the court or be forever barred. The notice shall be published once a week for four consecutive weeks. The clerk shall send a copy of the notice by ordinary mail to each heir and devisee whose name and address are shown on the application for letters or other records of the court, but any heir or devisee may waive notice to [him] such person by filing a waiver in writing. The personal representative may, but is not required to, send a copy of the notice by ordinary mail or personal service to any creditor of the decedent whose claim has not been paid, allowed or disallowed as provided in section 473.403. Proof of publication of notice under this section and proof of mailing of notice shall be filed not later than ten days after completion of the publication. The notice shall be in substantially the following form:

To all persons interested in the estate of .........., decedent:

On the ..... day of ......, 19.., (the last will of the decedent having been admitted to probate) ......... was appointed the personal representative of the estate of ........, decedent, by the probate division of the circuit court of ........ County, Missouri. The business address of the personal representative is ........., and [his] the personal representative's attorney is ....... of ........... .

All creditors of the decedent are notified to file claims in court within six months from the date of first publication of this notice or if a copy of this notice was mailed to, or served upon, such creditor by the personal representative, then within two months from the date it was mailed or served, whichever is later, or be forever barred to the fullest extent permissible by law. [This] Such six-month period [does] and such two-month period do not extend the limitation period that would bar claims one year after the decedent's death, as provided in section 473.444, RSMo, or any other applicable limitation periods. Nothing in section 473.033, RSMo, shall be construed to bar any action against a decedent's liability insurance carrier through a defendant ad litem pursuant to section 537.021, RSMo.

Receipt of this notice by mail should not be construed by the recipient to indicate that [he] the recipient necessarily has a beneficial interest in the estate. The nature and extent of any person's interest, if any, can be determined from the files and records of this estate in the probate division of the circuit court of ............. County, Missouri.

Date of the decedent's death was .........., 19.....

Date of first publication is .............., 19.....

.......................

Clerk of the Probate Division

of the Circuit Court

......... County, Missouri

473.050. [No proof shall be taken of any will nor any certificate of probate thereof issued, unless the will has been presented to the judge or clerk of the probate division of the circuit court, within six months from the date of the first publication of the notice of granting letters testamentary or of administration by the probate division of any circuit court in the state of Missouri, or within thirty days from the commencement of an action under section 473.083 to establish or contest the validity of a will, whichever is later, on the estate of the testator named in the will so presented.]

1. A will, to be effective as a will, must be presented for and admitted to probate.

2. When used in chapter 472, RSMo, chapter 474, RSMo, chapter 475, RSMo, and this chapter, the term presented means:

(1) Either the delivery of a will of a decedent, if such will has not previously been delivered, to the probate division of the circuit court which would be the proper venue for the administration of the estate of such decedent, or the delivery of a verified statement to such court, if the will of such decedent is lost, destroyed, suppressed or otherwise not available, setting forth the reason such will is not available and setting forth the provisions of such will so far as known; and

(2) One of the following:

(a) An affidavit pursuant to section 473.097, which requests such will be admitted to probate; or

(b) A petition which seeks to have such will admitted to probate; or

(c) An authenticated copy of the order admitting such will to probate in any state, territory or district of the United States, other than this state.

3. No proof shall be taken of any will nor a certificate of probate thereof issued unless such will has been presented within the applicable time set forth as follows:

(1) In cases where notice has previously been given in accordance with section 473.033 of the granting of letters on the estate of such testator, within six months after the date of the first publication of the notice of granting of letters, or within thirty days after the commencement of an action under section 473.083 to establish or contest the validity of a will of the testator named in such will, whichever later occurs;

(2) In cases where notice has not previously been given in accordance with section 473.033 of the granting of letters on the estate of testator, within one year after the date of death of the testator;

(3) In cases involving a will admitted to probate in any state, territory or district of the United States, other than this state, which was the decedent s domicile, at any time during the course of administration of the decedent s domiciliary estate in such other state, territory or district of the United States.

4. A will presented for probate within the time limitations provided in subsection 3 of this section may be exhibited to be proven, and proof received and administration granted on such will at any time after such presentation.

5. A will not presented for probate within the time limitations provided in subsection 3 of this section is forever barred from admission to probate in this state.

6. Except as provided in section 537.021, RSMo, no letters of administration shall be issued unless application is made to the court for such letters within one year from the date of death of the decedent.

473.070. 1. [In addition to the limitations of time provided in section 473.050, no written will shall be admitted to probate and no administration granted unless application is made to the court for the same within one year from the death of the decedent. This section shall apply to those persons whose deaths occur on or after July 13, 1989.] Any action to establish an interest in an estate by descent shall be filed prior to the expiration of the applicable objection period for a final settlement pursuant to section 473.590 or for a statement of account pursuant to subsection 4 of section 473.840.

2. [Any action in equity to establish an interest in the estate by descent must be filed within six months of the date of first publication of letters or be forever barred. Further, in the event that an alleged heir is not yet born and is in gestation, the mother carrying said alleged heir in gestation shall have the right to file an action in equity to establish an interest in an estate by descent on behalf of said alleged heir within six months of the date of the first publication of letters or be forever barred.] The mother of an alleged heir who is not yet born and is in gestation shall have the right to file an action in accordance with subsection 1 of this section on behalf of the alleged heir.

473.090. 1. Notwithstanding the limitation periods provided in section 473.050, the probate division of the circuit court, in its discretion, may at any time refuse to grant letters in the following cases:

(1) When the estate of the decedent is not greater in amount than is allowed by law as exempt property and the allowance to the surviving spouse or unmarried minor children under section 474.260, RSMo;

(2) When the personal estate of the decedent does not exceed [five] fifteen thousand dollars and there is no widower, widow or unmarried minor children, any creditor of the decedent whose claim has not been barred by section 473.444 or any creditor of the estate may apply for refusal of letters by giving bond in the sum of not less than the value of the estate, the bond to be approved by the court, conditioned upon the creditor's obligating himself or herself to pay, so far as the assets of the estate will permit, the debts of the decedent in the order of their preference, and to distribute the balance, if any, to the persons entitled [thereto] to such balance under the law. Liability of the sureties on the bond shall terminate unless proceedings against them are instituted within two years after the bond is filed. The court may dispense with the filing of a bond if [it] the court finds the [same] bond is not necessary.

2. Proof may be allowed by or on behalf of the widower, widow, unmarried minor children or creditor before the court of the value and nature of the estate, and if the court is satisfied that no estate will be left after allowing to the surviving spouse or unmarried minor children their exempt property and statutory allowances or that the personal estate does not exceed [five] fifteen thousand dollars when application is made by a creditor, the court may order that no letters of administration shall be issued on the estate, unless, upon the application of other creditors or parties interested, the existence of other or further property is shown.

3. After the making of the order, and until such time as it may be revoked, the surviving spouse, unmarried minor children or creditor may collect and sue for all the personal property belonging to the estate, if a surviving spouse or creditor, in the same manner and with the same effect as if [he] the person had been appointed and qualified as executor or administrator of the estate, and if minor children, in the same manner and with the same effect as now provided by law for proceedings in court by infants in bringing suit.

4. When the estate of the decedent includes real estate and its value, less liens and encumbrances, together with the personal property, is not greater in value than the exempt property and allowances to the surviving spouse or unmarried minor children, the surviving spouse or unmarried minor children are entitled [thereto] to such real property and may make record evidence of title [thereto] to such real property without appointment of an executor or administrator by filing in the office of the recorder of deeds of each county where the real property is situated a certified copy of the order of refusal of letters, describing the real property, naming the persons entitled [thereto] to such real property and showing their right to succeed to the property.

5. The surviving spouse or unmarried minor children who receive property of the estate under this section may retain [the same] such property, but a creditor receiving property under this section shall apply the proceeds [thereof] of such property to debts of the estate in the order in which claims against the estate of deceased persons are now classified and preferred by law, and shall distribute the balance, if any, to the persons entitled thereto under the law. Upon compliance with this procedure, the real estate involved shall not thereafter be taken in execution for any debts or claims against the decedent, but the compliance has the effect of establishing the right of the surviving spouse or unmarried minor children to succeed to the real property; however, nothing in this section shall affect the right of secured creditors with respect to the real property.

6. Any person who has paid funeral expenses or debts of decedent is deemed a creditor for the purpose of making application for the refusal of letters of administration under this section and is subrogated to the rights of the original creditor.

473.092. At any time during a proceeding commenced pursuant to this chapter, or, after the death of a ward, at any time during a proceeding commenced pursuant to chapter 475, RSMo, upon petition by any person who could have applied to the court pursuant to section 473.090 or section 473.097, if the court finds the requirements of either section would have been initially met, the court may order the pending matter be completed under section 473.090 or section 473.097 and proceed pursuant to either section as authorized by statute. The court may proceed with or without notice to any interested party.

[473.093. If, upon the return of the inventory and appraisement, after the issuance of letters and after the giving and publication of notice of letters, as required by section 473.033, it appears to the court that the value of the whole amount of the real and personal estate is not more than that to which the surviving spouse or unmarried minor children are entitled by law, without being subject to the payment of claims, the court may, in its discretion, make an order that the estate be delivered and transferred to and vested in the persons entitled thereto under sections 474.250 and 474.260, RSMo, and that all further advertisements, settlements and other proceedings under such administration be dispensed with, unless further estate is discovered or the court orders the administration to be proceeded with. The order shall be made without notice unless the court orders otherwise. If further estate of the decedent is discovered and administration is had thereon, such administration shall not abrogate or invalidate or otherwise affect any right, title or interest in property transferred or vested under an order made under this section unless the court, for good cause shown, sets aside such order within the time allowed for appeal therefrom. A certified copy of such order shall be recorded in the office of the recorder of deeds of each county where any real property is situated.]

473.097. 1. Distributees of an estate which consists of personal property or real property or both personal and real property have a defeasible right to the personal property, and are entitled to the real property [thereof] of such estate, as [herein] provided in this section, without awaiting the granting of letters testamentary or of administration, if all of the following conditions are met:

(1) The value of the entire estate, less liens and encumbrances, does not exceed forty thousand dollars;

(2) Thirty days have elapsed since the death of the decedent and no application for letters or for administration or for refusal of letters under section 473.090 is pending or has been granted, or if such refusal has been granted and subsequently revoked;

(3) A bond, in an amount not less than the value of the personal property, approved by the judge or clerk of the probate division is filed by the person making the herein required affidavit conditioned upon the payment of the debts of the decedent, including any debts to the state of Missouri, the expenses of funeral and burial and compliance with future orders of the court in relation to the estate of the decedent; and further conditioned that any part of the property to which the distributee is not entitled will be delivered to the persons entitled [thereto] to the property under the law. Liability of the sureties on the bonds [herein] provided for in this section terminates unless proceedings against them are instituted within two years after the bond is filed; except that, the court may dispense with the filing of a bond if it finds that the same is not necessary;

(4) A fee, in the amount prescribed in subdivision (4) of subsection 1 of section 483.580, RSMo, and when required, the publication cost of the notice to creditors are paid or the proof of payment for such publication is provided to the clerk of the probate court.

2. [The distributees mentioned in this section are entitled to receive the personal property, or to have any evidence thereof transferred to them, upon presenting to any person owing any money, having custody of any property, or acting as registrar or transfer agent of any evidence of interest, indebtedness, property or right, a copy of an affidavit and certificate of the clerk of the probate division of the circuit court. The affidavit herein required may be made by any person having knowledge of the facts] Notwithstanding the limitation periods set out in section 473.050, the affidavit required by this section may be made by the person designated as personal representative under the will of the decedent, if a will has been presented for probate within the limitation periods specified in section 473.050, otherwise by any distributee entitled to receive property of the decedent any time after thirty days after decedent s death, and shall set forth all of the following:

(1) That the decedent left no will or [that his will has been admitted to probate], if the decedent left a will, that the will was presented for probate within the limitation periods specified in section 473.050;

(2) That all unpaid debts, claims or demands against the decedent or [his] the decedent's estate and all estate taxes due, if any, on the property transfers involved have been or will be paid, except that any liability by the affiant for the payment of unpaid claims or demands shall be limited to the value of the property received;

(3) An itemized description and valuation of property of the decedent. As used in this subdivision, the phrase "property of the decedent" shall not include property which was held by the decedent as a tenant by the entirety or a joint tenant at the time of [his] the decedent's death;

(4) The names and addresses of persons having possession of the property;

(5) The names, addresses and relationship to the decedent of the persons entitled to and who will receive, the specific items of property remaining after payment of claims and debts of the decedent, included in the affidavit;

(6) The facts establishing the right to [the] such specific items of property as prescribed by this section.

The certificate of the clerk shall be annexed to or endorsed on the affidavit and shall show the names and addresses of the persons entitled to the described property under the facts stated in the affidavit and shall recite that the will of decedent has been probated or that no will has been presented to the court and that all estate taxes on the property, if any are due, have been paid.

3. A copy of the affidavit and certificate shall be filed in the office of the clerk of the probate division and copies [thereof] of the affidavit and certificate shall be furnished by the clerk.

4. The distributees mentioned in this section may establish their right to succeed to the real estate of the decedent by filing a copy of the foregoing affidavit and certificate of the clerk in the office of the recorder of deeds of each county where the real property is situated.

5. When the value of the property listed in the affidavit is more than fifteen thousand dollars, the clerk shall cause to be published in a newspaper of general circulation within the county which qualifies under chapter 493, RSMo, a notice to creditors of the decedent to file their claims in the court or be forever barred. The notice shall be published once a week for two consecutive weeks. Proof of publication of notice pursuant to this section shall be filed not later than ten days after completion of the publication. The notice shall be in substantially the following form:

To all persons interested in the estate of ......, Decedent:

On the ................ day of ................., 19..., a small estate affidavit was filed by the distributees for the decedent under section 473.097, RSMo, with the probate division of the circuit court of ..................... County, Missouri.

All creditors of the decedent, who died on ........., 19..., are notified [to file claims in one month from the date of first publication of this notice or be forever barred] that section 473.444 sets a limitation period that would bar claims one year after the death of the decedent. A creditor may request that this estate be opened for administration.

Receipt of this notice should not be construed by the recipient to indicate that [he] the recipient may possibly have a beneficial interest in the estate. The nature and extent of any person's interest, if any, may possibly be determined from the affidavit on this estate filed in the probate division of the circuit court of ..................... County, Missouri.

Date of first publication is ......................., 19...

.............................

Clerk of the Probate Division

of the Circuit Court

........... County, Missouri

6. Upon compliance with the [foregoing] procedure required by this section, the personal property and real estate involved shall not thereafter be taken in execution for any debts or claims against the decedent, but such compliance has the same effect in establishing the right of distributees to succeed to the property as if complete administration was had; but nothing [herein] in this section affects the right of secured creditors with respect to such property.

7. [If property cannot be divided in kind with advantage to the distributees, and it is not to their advantage that the same be sold, then, upon the application of a majority of those entitled to distribution, the court may order the same to be delivered to such person as they designate, in which selection minors shall act through their guardian, who shall proceed to collect, by suit or otherwise, all notes, accounts, and choses in action so received in the name of the distributees, and dispose of all property so coming into his possession or under his control to their best interest, collect the proceeds thereof, and distribute all moneys realized to the parties entitled thereto.] The affiant shall collect the property of decedent described in the affidavit. The property of decedent shall be liquidated by the affiant to the extent necessary to pay debts of decedent. If the decedent s property is not sufficient to pay such debts, abatement of the shares of the distributees shall occur in accordance with section 473.620. The affiant shall distribute the remaining property to such persons identified in the affidavit as required in subdivision (5) of subsection 2 of this section who are entitled to receive the specific items of personal property, as described in the affidavit, or to have any evidence of such property transferred to such persons. To the extent necessary to facilitate distribution, the affiant may liquidate all or part of decedent s property.

473.213. Proceedings upon the bond of [an executor or administrator] a personal representative shall not be brought subsequent to [two years] one year after [his] the personal representative's discharge.

473.360. 1. Except as provided in section 473.370, all claims against the estate of a deceased person, other than costs and expenses of administration, exempt property, family allowance, homestead allowance, claims of the United States and claims of any taxing authority within the United States, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract or otherwise, which are not filed in the probate division[, or] of the circuit court within six months after the date of the first published notice of letters testamentary or of administration or, if notice was actually mailed to, or served upon, such creditor, within two months after the date such notice was mailed, or served, whichever later occurs, or which are not paid by the personal representative, within six months after the first published notice of letters testamentary or of administration, are forever barred against the estate, the personal representative, the heirs, devisees and legatees of the decedent. No contingent claim based on any warranty made in connection with the conveyance of real estate is barred under this section. This six-month period does not extend any other applicable limitation periods.

2. Unless written notice of actions instituted or revived under section 473.363 or 473.367 is filed in the probate division within six months after the first published notice of letters, no recovery may be had in any such action on any judgment therein against the personal representative out of any assets being administered upon in the probate division or from any distributee or other person receiving the assets. Timely filing of the claim against the estate, under this section, within six months after the first published notice of letters, whether said claim is filed before or after the institution or revival of an action against the personal representative or the estate shall satisfy the requirement of written notice herein imposed.

3. Nothing in this section affects or prevents any action or proceeding to enforce any mortgage, pledge or other lien upon property of the estate; except that attachment, judgment, and execution liens shall be enforced as provided in this [law] chapter and not otherwise.

473.433. 1. Prior to the expiration of six months after the date of the first publication of letters, no personal representative shall be compelled to pay any claim presented to him or filed with the court; provided, however, that subsequent to the expiration of the time specified in section 473.360, no personal representative shall pay any claim except costs and expenses of administration, unless, within the time specified in sections 473.360, 473.363, and 473.367, said claim [has been served upon the personal representative, and] has either been filed with the court or acknowledged by the personal representative in writing to be a just claim.

2. Upon the expiration of six months after the date of first publication of letters, or when it appears that there are sufficient assets to pay all claims whether or not theretofore allowed, the personal representative shall proceed to pay all claims to which he has consented or which have been allowed by final judgment.

3. If it appears at any time that the estate is or may be insolvent, that there are insufficient funds on hand, or that there is other good and sufficient cause, the personal representative may report that fact to the court and apply for any order that he deems necessary in connection therewith.

4. Notwithstanding sections 473.360, 473.363, and 473.367, a personal representative may pay any claim at any time with the consent of all interested parties.

5. No claim filed with the court or acknowledged by the personal representative in writing to be a just claim, within the time specified in sections 473.360, 473.363 and 473.367, shall be barred on the basis of the claim not having been served upon the personal representative within the time specified in sections 473.360, 473.363, and 473.367.

473.543. Each settlement filed by a personal representative shall state the period for which it is made and, among other things, shall contain a just and true account of all moneys by him collected, the date when collected, from whom collected and on what account collected, whether on claims charged in the inventory or for property sold or otherwise; and it shall show the exact amount of principal and interest collected on each claim, and also the amount and date of each expenditure or distribution, and to whom and for what paid. Such settlement shall also show what interest has been obtained by the personal representative upon any funds in his hands, and when obtained, on what amounts, for what time and at what rate percent. Each expenditure of more than seventy-five dollars for which a personal representative claims credit in any settlement shall be supported by vouchers executed by the person to whom the disbursement was made. The court has discretion to require vouchers for expenditures of less than seventy-five dollars. Every settlement shall be signed by the personal representative.

473.657. Distribution to [any] a distributee may be made to the distributee [himself] or to a person holding a power of attorney[,] properly [authenticated and] executed by the distributee in accordance with the law of the place of execution, or to [his] the distributee's personal representative, guardian, or conservator.

473.663. 1. [Whenever] If a person has died leaving property or any interest [therein] in property in this state and if no administration has been commenced on [his] the estate of such decedent in this state[, nor has any will been offered for probate in this state,] within one year after [his death,] the date of decedent s death, and if no written will of such decedent has been presented for probate in this state within the time period provided in subsection 2 of section 473.050, then any person claiming an interest in such property as heir or through an heir may file a petition in the probate division of the circuit court which would be of proper venue for the administration of the estate of such [decedent's estate] decedent to determine the heirs of the decedent at the date of the decedent's death and their respective interests or interests as heirs in the estate.

[2.] The petition shall [state] include all of the following known by, or can with reasonable diligence be ascertained by, the petitioner:

(1) The name, age, domicile, last residence address and the fact and date of death of the decedent;

(2) [The names, ages and residence addresses of the heirs, so far as known or can with reasonable diligence be ascertained;

(3) The names and residence addresses of the persons claiming any interest in the property through an heir, so far as known or can with reasonable diligence be ascertained;] The names, relationship to the decedent and residence addresses of the heirs of the decedent at the time of the decedent s death;

(3) The names and residence addresses of any persons claiming through an heir of the decedent when such heir has died after the decedent;

(4) A particular description of the property of the decedent in this state with respect to which the determination is sought[;

(5) The net value of the estate] and the value of such property.

[3.] 2. Upon the filing of the petition, the court shall [fix] set the time for the hearing [thereof] of the petition, notice of which shall be given to:

(1) All persons known or believed to claim any interest in the property as heir or through an heir of the decedent;

(2) All persons who may at the date of the filing of the petition be shown by the records of conveyances of the county in which any real property described in such petition is located to claim any interest [therein] in such real property through the heirs of the decedent; and

(3) Any unknown heirs of the decedent.

[4.] 3. The notice shall be given by publication by publishing the [same] notice once each week for four consecutive weeks, the last insertion of publication to be at least seven days before the date set for the hearing. In addition, notice under subdivision (1) of subsection 2 of section 472.100, RSMo, or notice by registered or certified mail, as the court shall direct, shall be given to every [such] person named in the petition whose address is known to the petitioner. [Upon satisfactory proofs the court shall make a decree determining the heirs of the decedent and their respective interest as heirs in the property.]

4. Upon the hearing of the petition, the court shall make a decree determining the person or persons entitled to the property with respect to which a determination is sought, and their respective interest in the property as heirs or successors in interest to such heirs. The decree is conclusive evidence of the facts determined in such decree as against all parties to the proceedings.

5. A certified copy of the decree shall be recorded at the expense of the petitioner in each county in which any real property described [therein] in the decree is situated[, and is conclusive evidence of the facts determined therein as against all parties to the proceedings].

6. This section shall apply to those persons whose deaths occur on or after July 13, 1989.

473.823. 1. An independent personal representative is entitled to reasonable compensation for his services. The statutory schedule of compensation prescribed in section 473.153 [is prima facie evidence of reasonable compensation] shall be considered a minimum fee for services rendered. An independent personal representative may renounce his right to all or any part of the compensation. A written renunciation of fee may be filed with the court.

2. If the will provides for compensation of the independent personal representative, and there is no contract with the decedent regarding compensation, he may renounce the provisions before qualifying only if he also renounces the right to administer independently under subsection 1 of section 473.780. In the event of such renunciation, the administration shall be supervised unless independent administration is authorized under subsection 2 or 3 of section 473.780.

3. An independent personal representative's attorney shall be entitled to reasonable compensation for his services, but in no event shall the compensation of the independent personal representative or his attorney be in excess of the minimum prescribed by section 473.153, without authorization by the court. The schedule contained in such section shall be prima facie evidence of the reasonableness of the fees charged.

473.840. 1. Unless prohibited by order of the court, an independent personal representative may complete administration and be discharged in the manner prescribed by this section after six months and ten days from the date of the first published notice of letters testamentary or of administration.

2. To complete administration and be discharged in this manner the independent personal representative shall file in the court a document called a statement of account which shall include:

(1) A statement that notice was given under sections 473.033 and 473.783 and that first publication as required by section 473.783 occurred more than six months before the filing of the statement of account;

(2) A complete accounting, omitting vouchers, of all receipts and disbursements of the probate assets by the personal representative;

(3) A statement that all claims, expenses of administration and taxes have been paid in full, or if not paid, what items have not been paid in full and why;

(4) A statement that, unless objection to the proposed distribution is filed in court within twenty days after the filing of the statement of account, the independent personal representative will distribute probate assets in accordance with a schedule of proposed distribution included in the statement of account[, unless objection to the proposed distribution is filed in court within twenty days after the filing of the statement of account];

(5) A schedule of proposed distribution of probate assets; and

(6) A statement that notice was given in the manner provided by subdivision (2) of subsection 2 of section 472.100, RSMo, at least twenty-nine days prior to the filing of the statement of account which notice stated that: (a) [he] the independent personal representative would file the statement of account on a date certain or as continued by the court, and (b) objections to the schedule of proposed distribution shall be filed with the court within twenty days after the filing of the statement of account. The notice shall be published once a week for four consecutive weeks, the last publication to be at least seven days prior to the date specified [therein] in the notice for filing of the statement of account.

3. Copies of the statement of account, omitting vouchers, copies of the original and any supplementary and corrected inventories and all settlements filed in the court, and a notice, shall be mailed together by ordinary mail before they are filed in the court to each interested party. The notice shall state that the statement of account will be filed in the court on a date stated in the notice. Such notice shall further state that if no objection is filed in the court within twenty days after the filing of the statement of account, the independent personal representative will distribute in accordance with the schedule of proposed distribution contained in the statement of account. The notice shall further state that if no proceeding is commenced in the court within [one year] six months after the filing of the statement of account, the independent personal representative [thereby] is discharged from further claim or demand by an interested party.

4. If no objection is filed within such twenty days after filing, the court shall not have any duty to audit or make inquiry into such statement of accounts, and the personal representative shall make distribution in accordance with the proposed schedule as filed. If an objection is filed within twenty days, the court shall conduct a hearing [thereon,] on such objections and, if necessary shall require vouchers and audit the statement of account, and thereafter determine and order proper distribution and make an order discharging the representative.

5. Proof of the mailing of the notice and of the copies of the statement of account, inventories and settlements shall be filed in the court with the statement of account, and such proof shall be by a statement signed by the independent personal representative listing the persons to whom and addresses to which mailing was made and the date of mailing.

6. If no proceeding involving the independent personal representative is filed in the court within [one year] six months after the statement of account is filed, the representative [thereby] is discharged from further claim or demand by any interested party. The court shall not make any order of discharge. If proceedings are filed within [one year] six months after the statement of account is filed, the liability, if any, of the representative, to interested parties, shall be determined by the court, and upon satisfaction of any such liability the court shall make an order discharging the representative.

474.010. All property as to which any decedent dies intestate shall descend and be distributed, subject to the payment of claims, as follows:

(1) The surviving spouse shall receive:

(a) The entire intestate estate if there is no surviving issue [or parent] of the decedent;

(b) [The first twenty thousand dollars in value of the intestate estate, plus one-half of the balance of the intestate estate, if there is no surviving issue, but the decedent is survived by one or both parents;

(c)] The first twenty thousand dollars in value of the intestate estate, plus one-half of the balance of the intestate estate, if there are surviving issue, all of whom are also issue of the surviving spouse;

[(d)] (c) One-half of the intestate estate if there are surviving issue, one or more of whom are not issue of the surviving spouse;

(2) The part not distributable to the surviving spouse, or the entire intestate property, if there is no surviving spouse, shall descend and be distributed as follows:

(a) To [his] the decedent's children, or their descendants, in equal parts;

(b) If there are no children, or their descendants, then to [his] the decedent's father, mother, brothers and sisters [and] or their descendants in equal parts;

(c) If there are no children, or their descendants, father, mother, brother or sister, or their descendants, then to the grandfathers, grandmothers, uncles and aunts [and] or their descendants in equal parts;

(d) If there are no children or their descendants, father, mother, brother, sister, or their descendants, grandfather, grandmother, uncles, aunts, nor their descendants, then to the great-grandfathers, great-grandmothers, [and[ or their descendants, in equal parts; and so on, in other cases without end, passing to the nearest lineal ancestors and their children, [and] or their descendants, in equal parts; provided, however, that collateral relatives, that is, relatives who are neither ancestors nor descendants of the decedent, may not inherit unless they are related to the decedent at least as closely as the ninth degree, the degree of kinship being computed according to the rules of the civil law; that is, by counting upward from the decedent to the nearest common ancestor, and then downward to the relative, the degree of kinship being the sum of these two counts, so that brothers are related in the second degree;

(3) If there is no surviving spouse or kindred of the decedent entitled to inherit, the whole shall go to the kindred of the [wife or husband of] predeceased spouse who, at the time of the spouse's death, was married to the decedent, in like course as if such [wife or husband] predeceased spouse had survived the decedent and then died entitled to the property, and if there is more than one such predeceased spouse, then to go in equal shares to the kindred of each predeceased spouse;

(4) If no person is entitled to inherit as provided in this section the property shall escheat as provided by law.

474.250. The surviving spouse, or unmarried minor children of a decedent are entitled absolutely to the following property of the estate without regard to its value: The family bible and other books, one automobile or other passenger motor vehicle, including a pickup truck, with its means of propulsion, all wearing apparel of the family, all household electrical appliances, all household musical and other amusement instruments and all household and kitchen furniture, appliances, utensils and implements. Such property shall belong to the surviving spouse, if any, otherwise to the unmarried minor children in equal shares.

474.260. 1. In addition to the right to homestead allowance and exempt property, the [surviving spouse is entitled to a reasonable allowance in money out of the estate for his maintenance during the period of one year after the death of the spouse, according to his previous standard of living, taking into account the condition of the estate of the deceased spouse. The court shall consider the aggregate value of all money and property passing to the surviving spouse or unmarried minor children by means described in section 474.163. The allowance so ordered shall be made payable to the surviving spouse, unless the court finds that it would be just and equitable to make a division of it between the surviving spouse and the unmarried minor children. If there is no surviving spouse, the allowance shall be made to the unmarried minor children.] decedent s surviving spouse and minor children whom the decedent was obligated to support and the children who were in fact being supported by the decedent are entitled to a reasonable allowance in money out of the estate for their maintenance during the period of administration, which allowance may not continue for longer than one year. The allowance may be paid as a lump sum or in periodic installments. It is payable to the surviving spouse, if living, for the use of the surviving spouse and minor or dependent children; otherwise to the children, or person having their care and custody, but if a minor or dependent child is not living with the surviving spouse, the allowance may be made partially to the child or the child s guardian or other person having the child s care and custody, and partially to the spouse, as their needs may appear. In setting the amount of the support allowance for any persons entitled to such support, the court may consider the previous standard of living of the applicant, the condition of the estate, the income and other assets available to the applicant and the applicant s expenses. The support allowance is not chargeable against any benefit or share passing to the surviving spouse or children by the will of the decedent, unless otherwise provided, by intestate succession or by way of elective share. The death of any person entitled to a family allowance terminates the right to allowances not yet paid.

2. The court may authorize the [surviving spouse] recipient of the support allowance to receive any property of the estate in lieu of all or part of the money allowance authorized by this section, and in any case where the court makes an allowance in money, the [surviving spouse shall be entitled to] recipient of the support allowance may select and receive any property of the estate, of a value not exceeding the allowance in money, which shall be in lieu of and which value shall be credited against the allowance. The right of selection provided for [herein] in this section is subject to the provisions of section 473.620, RSMo. The allowance authorized by this [law] section is exempt from all claims.

[2.] 3. Where real estate is selected [hereunder] pursuant to this section, the provisions of subsections 2, 3, 4, 5 and 6 of section 474.290 shall be followed.

474.290. 1. At any time after the return of the inventory, the court, on application of the surviving spouse or of the guardian, conservator, or person having custody of the persons of the unmarried minor children of a decedent, shall make an allowance to the surviving spouse or unmarried minor children of an amount not exceeding fifty percent of the value of the estate, exclusive of exempt property, and the allowance made under section 474.260, but in no case shall the allowance exceed [seven] fifteen thousand [five hundred] dollars. Such allowance shall be known as a homestead allowance and is in addition to the exempt property and the allowance to the surviving spouse and unmarried minor children under section 474.260. The homestead allowance is exempt from all claims against the estate. The homestead allowance shall be offset against the share to which the surviving spouse or any minor child who receives it is entitled as a distributee of the estate, but the allowance shall not be diminished if it is greater than the distributive share. The allowance may consist, in whole or in part, of money or property, real or personal, and subject to the provisions of section 473.620, RSMo, property may be selected as [hereinafter] provided in this section. The homestead allowance is the property of the surviving spouse, if any; [otherwise] but if there is no surviving spouse or if the surviving spouse dies before receiving the homestead allowance, then it is the property of the unmarried minor children in equal shares. When a decedent is survived by married minor children or children of full age, or both, and also by unmarried minor children but no spouse, the homestead allowance as determined under the foregoing provisions of this section shall be divided by the total number of all of the children of the decedent and the shares of the unmarried minor children as so determined shall, notwithstanding the foregoing provisions, constitute the homestead allowance. The selection of property shall be made by the surviving spouse, if any, otherwise by the guardian or conservator of each unmarried minor child for such child, or by a person designated by the court, but no real estate may be selected or included in any homestead allowance unless selection of the specific real estate is requested in the application filed within the time provided by subsection 7 of this section.

2. If real estate is included in the homestead allowance, the personal representative shall convey the same as determined by this section by deed to the person entitled thereto.

3. If a surviving spouse selects, as a homestead allowance, an interest in property having a value in excess of the homestead allowance, the court shall order the personal representative to convey the property to the surviving spouse upon the payment to the estate by such spouse of an amount of money equal to the difference between the value of the property and the homestead allowance or it shall order the personal representative to convey an undivided interest in the property to the surviving spouse which is equivalent to the ratio which the homestead allowance bears to the value of the property, at the option of the spouse.

4. If the court finds that real estate selected by the surviving spouse is a part of a larger tract and that the real estate selected may be separated from the residue of the larger tract without great prejudice to the owners, the court may proceed to set off to the surviving spouse the real estate constituting the homestead allowance in the same manner as provided by sections 528.200 to 528.240, RSMo, for the partition of real estate, and this portion so set off shall be conveyed by the personal representative, by deed, to the surviving spouse.

5. In all proceedings under this section the court may order such appraisals of the property selected as it deems necessary and it shall determine the value of the property after due notice to all interested parties in the manner as ordered by the court [under] pursuant to section 472.100, RSMo, and hearing pursuant thereto.

6. If within five days after the court's determination of the value of the property any interested party files written exception [thereto] to the court's determination and avers [therein] in the exception that the amount so determined is excessive or inadequate and if the court finds that a sale of the property would be in the best interests of the estate, then the court, in lieu of the procedures provided in subsections 1 and 2, may order a public sale of such property in the manner provided by sections 473.507 and 473.510, RSMo. Upon such sale, if the surviving spouse [be] is the high bidder, the amount of the homestead allowance shall be credited against the purchase price. Within ten days after such sale a report [thereof] of the sale shall be filed and upon approval [thereof] of the report by the court, the personal representative shall execute, acknowledge and deliver a conveyance to the purchaser according to the order of approval which in form and substance shall be the same as that provided for in subsection 2 of section 473.520, RSMo, omitting any reference to certificate of appraisement.

7. If no application for the setting apart and allowance [herein] authorized in this section is filed within ten days after expiration of the time allowed for filing of claims, the homestead allowance is deemed waived by the surviving spouse or the unmarried minor children and the spouse or the unmarried minor children have no right to homestead or homestead allowance under any law of this state.

8. The allowance made under this section is in lieu of all dower and homestead rights in the property of a decedent. After January 1, 1956, no right of homestead under sections 513.495 and 513.500, RSMo, vests in the surviving spouse or minor children of any decedent, but neither this section nor the repeal of sections 513.495 and 513.500, RSMo, affects homestead rights heretofore vested in any surviving spouse or minor children.

474.333. A will may refer to a written statement or list to dispose of items of tangible personal property not otherwise specifically disposed of by the will, other than money, evidences of indebtedness, documents of title, securities and property used in trade or business. To be admissible under this section as evidence of the intended disposition, the writing must either be in the handwriting of the testator or be signed by [him] the testator, must be dated and must describe the items and the devisees with reasonable certainty. The writing may:

(1) Be referred to as one to be in existence at the time of the testator's death[,];

(2) Be prepared before or after the execution of the will[,];

(3) Be altered by the testator after its preparation[,]; and

(4) Be a writing which has no significance apart from its effect upon the dispositions made by the will.

537.021. 1. The existence of a cause of action for an injury to property, for a personal injury not resulting in death, or for wrongful death, which action survives the death of the wrongdoer or the person injured, or both, shall authorize and require the appointment by a probate division of the circuit court of:

(1) A personal representative of the estate of a person whose property is injured, or a person injured or a person entitled to maintain a wrongful death action upon the death of any such person and such appointment in only those cases involving loss chance of recovery or survival shall be made notwithstanding the time specified in section [473.070] 473.050, RSMo, for the exclusive purpose of pursuing a cause of action related to such injury or wrongful death; provided that, in such cases, the court in which any such case is brought shall appoint a plaintiff ad litem at the request of the plaintiff or other interested person delineated in section 537.080 and such person shall be entitled to the proceeds of such action. Such plaintiff ad litem may maintain such action instead of the personal representative of the deceased and may maintain the action as an alternative theory in any action under section 537.080; and

(2) A personal representative of the estate of a wrongdoer upon the death of such wrongdoer; provided that, if a deceased wrongdoer was insured against liability for damages for wrongdoing and damages may be recovered from the wrongdoer's liability insurer, then the court in which any such cause of action is brought shall appoint at the request of the plaintiff or other interested party a qualified person to be known as a defendant ad litem. The defendant ad litem when so appointed shall serve and act as the named party defendant in such actions in the capacity of legal representative of the deceased wrongdoer and such appointment and any proceedings had or judgment rendered in such cause after such appointment shall be binding on the insurer of such deceased wrongdoer to the same extent as if a personal representative had acted as the legal representative of such deceased wrongdoer in such cause of action. Should the plaintiff in such cause of action desire to satisfy any portion of a judgment rendered thereon out of the assets of the estate of such deceased wrongdoer, such action shall be maintained against a personal representative appointed by the probate division of the circuit court and the plaintiff shall comply with the provisions of the probate code with respect to claims against decedents' estates. Nothing in this section shall be construed to permit a plaintiff in such cause of action to pursue other assets of a decedent's estate after the expiration of the time provided in section 473.444, RSMo.

2. Nothing herein shall be construed to require that the deceased wrongdoer leave no assets subject to probate administration before the appointment of a defendant ad litem as herein provided, nor shall the appointment of a defendant ad litem as herein provided prevent the probate division of the circuit court from appointing a personal representative of the estate of the deceased wrongdoer for purposes of administration of the assets thereof.

3. The defendant ad litem may be allowed a reasonable fee by the court appointing him which shall be taxed as court costs. The defendant ad litem shall not be [personally] liable for court costs unless specially charged by the court for personal misconduct in the action.

4. Actions properly pending against personal representatives and defendants ad litem prior to September 28, 1981, shall not be affected by the provisions of this section.

Section 1. 1. As used in this section, the following words and phrases shall mean:

(1) "Bank", any bank subject to the provisions of chapter 362, RSMo, which is duly authorized to exercise trust powers, and any national bank which is authorized to exercise trust powers under the laws of the United States and which has its principal place of business in Missouri, including a national bank whose operations include providing trust and other fiduciary services and related activities;

(2) "Beneficiary", any person or entity which benefits from, or has a present or future interest in, any money or property administered by a person with a fiduciary obligation;

(3) "Director", the director of the division of finance of the department of economic development;

(4) "Fiduciary obligation", any obligation of any bank or trust company to a person or entity resulting from an appointment, designation or undertaking to act alone or jointly with others primarily for the benefit of others in matters connected with such appointment, designation or undertaking, and including, but is not limited to, acting as a trustee of a trust, including a testamentary or nontestamentary trust, or a trustee of a common trust fund; executor; administrator; personal representative; guardian; conservator; custodian; assignee; depositary; receiver; attorney-in-fact; registrar or transfer agent with respect to stocks, bonds or other evidences of indebtedness of any corporation, association, state, municipality, or public authority; agent, including escrow agent or agent for the investment of money; or in any other similar capacity. The term fiduciary obligation includes any obligation occurring as a result of an appointment or designation to any foregoing capacity upon the death of a person serving in such capacity or upon the happening of any other future event;

(5) "Transferee", a bank or trust company assuming fiduciary obligations pursuant to this section from a transferor;

(6) "Transferor", a bank or trust company transferring fiduciary obligations pursuant to this section to a transferee;

(7) "Trust company", any trust company or bank organized under the laws of this state which is duly authorized to exercise trust powers.

2. Notwithstanding any other provision of law to the contrary, a bank or trust company may transfer by assignment to another bank or trust company any or all of the fiduciary obligations of such bank or trust company, without any order of or other action by any court or any consent or other approval of any interested person, except as provided in subsection 5 of this section, upon the prior approval of the director and provided that the transferor and transferee comply with the provisions of this section. The assignment may encompass all fiduciary obligations, a general class or classes of fiduciary obligations, or specified individual accounts or other particularly identified fiduciary obligations.

3. The transferor, transferee or any beneficiary on behalf of all beneficiaries jointly, shall file an application for approval of the transfer of a fiduciary obligation with the director, and shall provide all relevant information as the director may deem necessary. The transferee shall also file proof with the director that the transferee has given written notice by certified mail of the proposed transfer, including a summary of the provisions of subsection 5 of this section relating to objections to the transfer of the fiduciary obligation, at least thirty days and not more than sixty days prior to the filing of the application, to the transferor, all persons, firms, organizations or corporations who are known to the applicant to be living or existing grantors under each affected trust or other fiduciary obligation, or if there is no such known living or existing grantor, to each living or existing beneficiary thereof known to the transferee. If any living or existing grantor or any such beneficiary delivers to the applicant any communication regarding the proposed transfer, the applicant shall furnish the director with a copy of such communication together with any accompanying documents. If the director determines that the transferee has the authority and is qualified to complete the fiduciary obligation, and that the transfer of the fiduciary obligation will not materially adversely affect the fiduciary obligation, he shall issue an order approving the transfer of the fiduciary obligation. If the director fails to approve or deny the transfer of the fiduciary obligation within thirty days of the date of the filing of the application with the director, the application shall be deemed approved by the director.

4. If the director approves the transfer of a fiduciary obligation, within twenty days of the approval, the transferee shall publish a notice of the transfer of the fiduciary obligation pursuant to this section in a newspaper of general circulation in the county or city where the transferor s main banking house or principal place of business, respectively, is located. The transfer of the fiduciary obligation shall be effective upon the thirtieth day after the date of such publication except with respect to any fiduciary obligation which upon that date is the subject of notice of objection made pursuant to subsection 5 of this section.

5. Within thirty days after the publication of notice of approval by the director of the transfer of a fiduciary obligation pursuant to subsection 4 of this section, any grantor or beneficiary who was entitled to receive a written notice pursuant to subsection 3 of this section may give written notice to the transferee objecting to the transfer of the fiduciary obligation in which such person has an interest. In order to complete the transfer, the transferee may petition the probate division of the circuit court of the county or city not within a county in which the notice was published to determine whether the transfer of the fiduciary capacity will materially adversely affect the administration of the fiduciary account. After notice to all interested parties and a hearing on the issues, the circuit court may deny the relief sought by the petitioning transferee and not transfer the fiduciary obligation to the petitioning transferee, may appoint a new fiduciary to succeed the transferor if the court finds that the appointment of a new fiduciary is in the best interests of the beneficiaries of the fiduciary obligation but that the transfer of the fiduciary obligation to the petitioning transferee will materially adversely affect the administration of the fiduciary account, or shall order the transferor to transfer by assignment the fiduciary obligation to the petitioning transferee.

6. On the effective date of the transfer of a fiduciary obligation pursuant to this section, the transferor shall be released from all transferred fiduciary obligations and all liability relating to such transferred fiduciary obligations, and shall cease to act regarding all such transferred fiduciary obligations, except that such transferee shall not be relieved of any liabilities arising out of a breach of a fiduciary obligation occurring prior to such effective date. The transferor shall file an itemized accounting of all assets and liabilities in each transferred fiduciary account with the transferee upon the effective date of the transfer. Notwithstanding the provision of any law or the provision of any agreement to the contrary, the transferor shall not impose fees relating to the transfer of the fiduciary obligation in excess of the actual cost to the transferor of the transfer of the fiduciary obligation. The failure by a bank or trust company to give any notice required by subsection 3 of this section with respect to any fiduciary account shall not affect the validity of the transfer of a fiduciary obligation pursuant to this section with respect to any other fiduciary obligation or account.

7. Any appointment or other designation of a bank or trust company to a fiduciary obligation in a trust, will or other instrument shall be deemed to be made based only on facts and circumstances in existence on the date and at the time that the appointment or designation is made, and the director or a court, when considering the transfer of a fiduciary obligation, shall consider whether the transferee has the authority to complete the fiduciary obligation and is qualified to do so, the effect of the transfer of the fiduciary obligation including whether the transfer of the fiduciary obligation will materially adversely affect the fiduciary obligation, and whether the transfer of the fiduciary obligation is in the best interests of the beneficiaries of the fiduciary obligation.

Section B. Because of the need to provide for fair and efficient probate procedures, this act is deemed necessary for the immediate preservation of the public health, welfare, peace and safety, and is hereby declared to be an emergency act within the meaning of the constitution, and this act shall be in full force and effect upon its passage and approval.