404.460. Future transfers of property revocable by donor, exception.
Future transfers of property revocable by donor, exception.
404.460. A provision in a will, trust, power of appointment,benefit plan, life or endowment insurance policy, annuity orother contract, or a pay or transfer on death direction, for atransfer of property to be made in the future to a custodian fora beneficiary, made by a donor in the manner prescribed insubdivision (4) of subsection 1 of section 404.540, remainsrevocable by the donor until the property becomes transferable inaccordance with the terms of the governing instrument to thebeneficiary or a personal custodian for the beneficiary undersections 404.400 to 404.650, unless expressly made irrevocable atthe time provision for the gift is made or subsequently.
(L. 1986 S.B. 651 § 3 subsec. 3)