MO SB920

Adds Section 456.1-113 to Missouri law to allow husband and wife to transfer tenancy by the entireties property to a trust while retaining its tenancy by the entireties characteristics.

Property transferred to a trust with both spouses as settlors shall be deemed and retain all characteristics of tenancy by the entireties property for all purposes, including any investments or reinvestments of that property.

While both spouses are living, the husband and wife are the sole permissible distributees of the property and any income or benefits derived from it, and both have power to withdraw or appoint property to any person.

Both spouses while living and the surviving spouse have the power to revoke or amend the trust at any time.

If a court invalidates the transfer or the trust is terminated while both spouses are living, the property automatically reverts to being held individually by the husband and wife as tenants by the entireties without further action required.