MO HB230

Allows husband and wife who own property as tenants by the entireties to transfer it to a trust while both are settlors, and the property retains tenancy by the entireties status during administration by the trustee.

Permits a trust protector to be designated in a trust instrument with powers to remove/appoint trustees, modify trust terms for tax purposes, amend distribution provisions, and change applicable law governing the trust.

Limits trust protector liability by providing that a trust protector is not a fiduciary and cannot be held liable for acts or omissions unless motivated by actual intent to harm or self-dealing for personal gain.

Allows a trust protector to recover reasonable costs, expenses, and attorney's fees for defending against claims arising from actions taken in that capacity, unless a final court decision establishes bad faith conduct.

Permits husband and wife to jointly devise an estate held by entirety with a remainder over after the surviving spouse's life enjoyment, without disrupting the joint tenancy during both spouses' lifetimes.