Serving Southern Jefferson County in the Great State of Montana
Serving Southern Jefferson County in the Great State of Montana
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Trusts gained more attention during the COVID-19 pandemic as a tool to manage financial affairs, according to Montana State University Extension educators. But a trust may not be the right choice for everyone. Individuals should learn the pros and cons of the distinct types of trusts available, said Marsha Goetting, MSU Extension family economics specialist. In Montana, the person who provides property and creates a trust is a “settlor,” also referred to as a grantor, donor, or trustor. The trustee is the individual, institution or org...
Montana State University educators say it is important for people to understand how they title property impacts who receives it upon their death. Whose name is on the deed for your home? Is it held in Joint with right of survivorship or as a tenancy in common? Whose name is on your savings account? MSU Extension family economics specialist Marsha Goetting and Madison-Jefferson County Extension agent Kaleena Miller said factors like property title laws combined with Montana intestacy statues impacts who inherits property after a person dies....
This is the fourth in a series of articles focusing on estate and legacy planning. After a person’s death, the matter of dividing up their personal belongings can become a complicated matter. Just imagine going into the home of someone who has died. As a personal representative (PR) what do you do with all the person’s “stuff?” If the PR is lucky the deceased took advantage of a Montana Uniform Probate Code provision allowing a person to create a separate list specifying the distribution of personal belongings that may have emotional value s...
