SB 1457 - This act establishes provisions relating to charitable organizations named as beneficiaries of property in an instrument other than a will or trust. For the purpose of obtaining the property or information regarding the property, a charitable organization named as a beneficiary may present an affidavit, as described in the act, accompanied by certain documentation relating to the charitable organization and decedent to the holder of the property or to any other person with information regarding the property. The holder of the property shall not request additional personal information from any individual who is an employee or a board member of the charitable organization. Additionally, if the requirements of this act for the affidavit and accompanying documents are met, the charitable organization may have: • The decedent’s property paid, delivered, or transferred; • The registered ownership on the books of the corporation changed by the transfer agent of a security to the charitable organization; or • The information requested delivered to the organization. The property holder and any person who, in good faith and with no knowledge that the affidavit is incorrect, delivers the property or requested information shall not be liable to any person. The property holder may verify a charitable organization's authority, but such verification shall not exceed 30 days from the date of delivery of the affidavit. Any right or title acquired from the charitable organization is not invalid due to a misapplication by the charitable organization. A transaction or a lien created by a transaction entered into by the charitable organization and anyone acting in reliance on the affidavit shall be enforceable against the property the charitable organization has requested. If the holder refuses to provide the property or information within 30 days of receiving the affidavit, the charitable organization may bring an action to recover the property or to receive information. Such action shall be brought within one year of the date of the act or failure to act. If the court finds that the holder acted unreasonably, the court may award damages, costs, attorney's fees, and a civil penalty in an amount between $500 and $10,000. This act is substantially similar to HB 1924 (2026). KATIE O'BRIEN

2026 Regular Session Introduced by Nick Schroer

Missouri bill requires charitable organizations named in beneficiary designations to file affidavits verifying their charitable status before claiming benefits.

Hearing Conducted S Judiciary and Civil and Criminal Jurisprudence Committee

Legislative bill overview

SB 1457 creates new requirements for charitable organizations that are named as beneficiaries in non-testamentary instruments (such as life insurance policies, retirement accounts, or payable-on-death bank accounts). The bill establishes procedures requiring these organizations to file affidavits confirming their charitable status and providing specific organizational information when claiming such benefits.

Why is this important

This measure addresses potential fraud and ensures that only legitimate charitable organizations receive benefits intended for charitable purposes. It creates a verification mechanism for financial institutions and beneficiary designations, protecting both estates and ensuring charitable intent is honored accurately. Without such verification, fraudulent entities could potentially claim benefits designated for legitimate charities.

Potential points of contention

Administrative burden: Charitable organizations may face compliance costs and paperwork requirements for claiming rightfully designated benefits

Timing and enforcement: Unclear deadlines or enforcement mechanisms could create disputes about when affidavits must be filed and what happens if they're delayed

Scope definition: The bill's specific definitions of qualifying "instruments" and what constitutes proper charitable status documentation may be ambiguous or overly restrictive