Legal Service Developer Program
Estate Planning
Who will get your assets when you die? How will these assets be distributed? Do I have any control over how these assets are distributed? What issues and concerns must I think about prior to contacting an attorney in preparation for preparing my will? These are common and important questions that all Montanans have in their estate planning process. This section of the manual is intended to assist you through this process.
You will find two planning guides. These are entitled "Checklist for Estate Planning" and "Estate Planning Data Sheet." (WORD) (PDF) They are intended to assist you in estate planning. The checklists are common questions that will be asked by your attorney. They will be very helpful if you have filled these out prior to meeting with your attorney. You will have the benefit of time and consideration in making some of these decisions.
Estate planning is a complicated and a personal process. It should not be delayed. It is also very important that you consult with a licensed attorney. Estate law and will preparation requires professional training. Your attorney will explain several options available to you in your estate planning.
You will read the term "personal representative." A personal representative is the administrator of your estate (previously known as an executor or executrix of the estate). They do not have any power until you have passed away. A personal representative is required to be appointed by the Court into their position.
You will also find a "Sample Will." (WORD) This is only a sample and should be used as a reference for your estate planning needs. We do not recommend you draft your own will. Will preparation is relatively inexpensive for the typical middle-income Montanan. Feel free to call or visit several attorneys and request information on their fee charges for a will preparation. The general rule of thumb is the more complex your family situation and the more assets you have to distribute when you die, the greater the cost in the preparation of the will.
Montana recognizes holographic wills, which are written documents, prepared in your own handwriting and signed and dated by you. You have the ability to declare your intent through the use of a holographic will.
Finally, we have provided a copy of the Montana “Declaration of Homestead Exemption.” (PDF) Montana law allows you to protect part of the equity in the home you live in. You must reside in the home. A detailed explanation of the instructions and recording of a Homestead Exemption Declaration is found on the reverse side of the declaration form.
DISCLAIMER
This Legal guide was complied by the DPHHS Aging Services Division Legal Services Developer. This publication is not intended to be a substitute for legal advice. Rather, it is designed to help families become better acquainted with some of the devices used in long term planning and to create an awareness of the need for such planning. Future changes in laws cannot be predicted and statements in this narrative are based solely on those laws in force on the date of publication.
We recommend that you seek legal advice for all your planning needs.
