MO HB1165

Repeals and reenacts section 456.950, RSMo, to redefine qualified spousal trusts for married couples.

Allows qualified spousal trusts to be structured in three ways: a single trust for both spouses, two separate shares within one trust for each spouse, or a combination of both structures.

Property transferred to a qualified spousal trust from tenants by the entirety holdings retains the same creditor protection that would exist if held as tenants by the entirety, provided both spouses remain alive and married.

Property in a qualified spousal trust maintains each spouse's original marital property rights upon dissolution of marriage unless both spouses expressly agree otherwise in writing.

Applies retroactively to all trusts meeting the qualified spousal trust criteria, whether created before or after August 28, 2011.