Establishes the Missouri Uniform Fiduciary Income and Principal Act, which modifies provisions relating to trust and estate administration

SB 246 proposes Missouri's adoption of the Uniform Fiduciary Income and Principal Act, which would standardize how trust and estate administrators handle income versus principal in Missouri. It directly affects trust executors, estate administrators, and beneficiaries by establishing clear rules for distributing income (like interest or rent) separately from principal (the original asset value). Key provisions require fiduciaries to prioritize income distribution to beneficiaries first, before touching principal, unless specific conditions apply. The bill is pending further legislative action after passing the Senate General Laws Committee on March 10, 2025.