Legislative update: July 12, 2024

On July 11, Gov. Mike Parson signed SB 1359, containing one of The Missouri Bar’s priority bills – The Qualified Spousal Trust (Section 456.950).

The legislation was originally proposed by the bar’s Probate & Trust Division. View the draft language here.

As noted by Missouri Bar Government Relations Director Andy Briscoe, the bill: 

- Harmonizes the terms in the QST statute with the bankruptcy code
- Clarifies the revocability of a Qualified Spousal Trust
- Clarifies the funding of separate shares within a qualified spousal trust

“We are grateful that Gov. Parson signed this proposal into law,” Briscoe said.