What Are My Duties as Trustee in Missouri?
Step-by-step guide for administering a trust after the grantor passes away. Answer a few questions to get a personalized checklist for your situation.
Frequently Asked Questions
A successor trustee in Missouri has a fiduciary duty to manage trust assets prudently, notify beneficiaries, pay debts and taxes, and distribute assets according to the trust terms.Mo. Rev. Stat. § 456.1-101 et seq.Verified Jun 1, 2026 Unlike probate, trust administration is private and does not require court involvement.
Missouri requires the successor trustee to notify qualified beneficiaries of the trust's existence and the trustee's contact information within 120 days of the grantor's death.Mo. Rev. Stat. § 456.1-101 et seq.Verified Jun 1, 2026 The notice typically includes the trustee's name and address, and the beneficiary's right to request trust information.
When the grantor dies, the revocable trust becomes irrevocable and requires its own EIN (Employer Identification Number) from the IRS. The trustee must file Form 1041 (U.S. Income Tax Return for Estates and Trusts) for any income earned by trust assets after the date of death. The trust may also need to file a Missouri state income tax return.
Missouri requires trustees to maintain detailed records of all trust transactions, including income, expenses, distributions, and investment decisions.Mo. Rev. Stat. § 456.1-101 et seq.Verified Jun 1, 2026 Beneficiaries have the right to request accountings. Proper documentation protects the trustee from liability claims and provides transparency for beneficiaries.
Trustee compensation in Missouri is based on reasonable compensation for the services performed. Professional trustees typically charge 0.5-1.5% of trust assets annually. Individual (non-professional) trustees often reference executor fee guidelines (2-5% of estate value) as a benchmark. See the Missouri trustee compensation guide for details.
Trust administration in Missouri typically takes 6-12 months, compared to 12-18 months for average probate cases.RSMo § 473.050 (will presentment), § 473.090 (refusal of letters), § 473.097 (small estate), § 473.153 (fees; § 473.153(1) base = personal property administered + court-ordered real property sale proceeds), § 473.157 (bond), § 473.160 (bond waiver), § 473.233 (inventory deadline), § 473.360 (creditor claims), § 473.780 (independent administration), § 483.530 (probate division court costs), § 488.012 (uniform court cost surcharges)Verified Jun 1, 2026 Trust creditors have 6 months to file claims, compared to 6 months for probate creditor claims. Trust administration avoids court involvement, public filings, and many of the procedural delays associated with probate. See the Missouri estate settlement guide for a complete overview.
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Missouri Estate Planning Resources
In-depth guides covering Missouri probate laws, trust requirements, and estate planning strategies.
