Missouri Laws 475.330 – Conservatorship dispensed with, when
1. When the whole estate of a minor does not exceed the value of ten thousand dollars, the court may, in its discretion, without the appointment of a conservator or the giving of bond, authorize:
(1) The deposit in a depositary authorized to receive fiduciary funds, payable to the conservator of the estate when appointed or to the minor upon his attaining the age of eighteen years; or
Terms Used In Missouri Laws 475.330
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- conservator: as used in this chapter , includes limited conservator unless otherwise specified or apparent from the context. See Missouri Laws 475.010
- disabled person: one who is:
(a) Unable by reason of any physical, mental, or cognitive condition to receive and evaluate information or to communicate decisions to such an extent that the person lacks ability to manage the person's financial resources. See Missouri Laws 475.010
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiduciary: A trustee, executor, or administrator.
- Minor: any person who is under the age of eighteen years. See Missouri Laws 475.010
- Parent: the biological or adoptive mother or father of a child whose parental rights have not been terminated under chapter 211, including:
(a) A person registered as the father of the child by reason of an unrevoked notice of intent to claim paternity under section 192. See Missouri Laws 475.010
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action and evidences of debt. See Missouri Laws 1.020
- Protectee: a person for whose estate a conservator or limited conservator has been appointed or with respect to whose estate a transaction has been authorized by the court under section 475. See Missouri Laws 475.010
(2) The delivery thereof to a suitable person designated by the court, deliverable to the conservator of the estate when appointed or to the minor upon his attaining the age of eighteen years; or
(3) The payment or delivery thereof to the parent of the minor, or to the person having care or custody of the minor or to the minor himself.
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The person receiving such money or other assets shall hold and dispose of the same in the manner directed by the court.
2. When the whole estate of a person over the age of eighteen who has been adjudicated to be disabled does not exceed the value of ten thousand dollars, the court may, in its discretion, without the appointment of a conservator or the giving of bond, authorize the deposit thereof in a depositary authorized to receive fiduciary funds in the name of a suitable person designated by the court, or authorize the delivery thereof to a suitable person designated by the court. The person receiving such money or other assets shall hold and dispose of the same in such manner as the court directs.
3. When the whole estate of a minor or a disabled person does not exceed ten thousand dollars, the court may discharge the conservator of the estate and authorize disposition of the assets of the estate of the protectee in the same manner as provided in subsections 1 and 2 of this section.
4. The person or officer making payment, delivery, transfer or issuance of personal property or evidence thereof to the person designated by the court under this section is discharged and released to the same extent as if such payment, delivery, transfer or issuance was made to a conservator of the minor or disabled person, and he is not required to see to the application thereof, except that a person or officer making payment, delivery, transfer or issuance of money or personal property, or evidence thereof, to a next friend or guardian ad litem may be discharged and released as provided for in section 507.184.