In today's complicated society all families, regardless of their resources and ages, can benefit from overall financial planning--one aspect of which is estate planning. 

The following estate planning publications were created at Montana State University by Extension Family Economics Specialist Marsha A. Goetting,  Ph.D., CFP®, CFCS. The MontGuides have been reviewed by professionals  from the following organizations: Business, Estates, Trusts, Tax, and Real  Property Law Section; State Bar of Montana; Montana Society of Certified  Public Accountants; Montana Association of Life Underwriters. 
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• Accessing a Deceased Person's Financial Accounts. (MT200301HR)
  This publication describes how heirs of a deceased person can access his/her financial accounts, depending on whether the accounts were owned jointly with other individuals, had payable-on-death or transfer-on-death designations, or had no designated beneficiary. (2005)
  
  
• Annuities. (MT199213HR) 
  Outlines how to shop for and choose an annuity and how it can help individuals achieve retirement and estate planning goals. (2005)
  
  
• Beneficiary Deeds in Montana (MT200707HR)
  This publication explains how Beneficiary deeds allow owners of real property in Montana to transfer at death without probate their property to one or more beneficiaries. (Web Revision February 2008)
  
  
• Cremation. (MT200201HR) 
  This close look at cremation (an alternative to burial or entombment) explores personal and family concerns, state and federal regulations, and costs. (2002)  
  
  
• Custodial Accounts for Kids Under Age 21.  (MT199910HR)  
  A custodial account is one alternative for a parent or other adult who wants to make gifts of assets during life, bequests with a will, or distributions from a trust for the benefit of a child who is under 21 (2006)
  
  
• Designating Beneficiaries through Contractual Arrangements. (MT199901HR)
  Do you know what would happen if you transferred life insurance proceeds to your grandson in your will, but wrote in your daughter as the beneficiary on the policy? Which takes precedence? This MontGuide focuses on transferring your assets through contractual arrangements, such as those commonly found with insurance policies, IRAs and employee benefit plans. (2007)
  
  
• Dying Without a Will in Montana:  Who Receives Your Property?  (MT198908HR)  
  Includes legal terms and detailed examples of possible scenarios for distribution of your property should you die before writing a will. (2008)
  
  
• Estate Planning for Families with Minor and/or Special Needs Children. (MT199117HR)
  How to provide for your children's physical and financial care in case of you or your spouse's death. Includes special instructions concerning handicapped and stepchildren. (2007)
  
  
• Estate Planning: The Basics (EB0144) ($10.00). 
  This handy packet includes 16 guides to estate planning issues to  help you understand and use the information in planning for your own estate distribution.  You also may order additional topics of interest without charge. (2006)
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• Estate Planning Tools for Owners of Companion or Service Animals (Fact Sheet)
  Whether we refer to them as domesticated pets, companion animals, specialty pets, service animals or as just pets, they play an extremely significant role in the lives of many Montanans.  By planning ahead and utilizing the appropriate legal documents, owners can ensure that their pets will continue to receive proper care should their owners become incapacitated or die. (2008)
  
  
• Federal Estate Tax  (MT199104HR)
  This publication analyzes how federal tax laws affect individual estates, including changes resulting from the Economic Growth and Tax Relief Reconciliation Act of 2001. In many cases, the federal estate tax can be reduced significantly by careful planning during life (2006).
  
  
• Getting Started with Estate Planning (MT199508HR)
  How--and why---to arrange for the future use and distribution of your personal property.(2005)
  
  
• Gifting:  A Property Transfer Tool of Estate Planning  (MT199105HR)
  This guide explains how to use laws that allow gifts of real and personal property to reduce income taxes and eventual estate taxes. Includes changes resulting from the Economic Growth and Tax Relief Reconciliation Act of 2001 (2006).
  
  
• Glossary of Estate Planning Terms. (MT200202HR)
  This is a glossary of some of the estate planning terms used in our Estate Planning MontGuides. Keep this glossary close by in case you come across an unfamiliar term. (2007)
  
  
• Inheriting an IRA: Planning Techniques for Primary Beneficiaries. (MT200310HR) 
  When an IRA owner dies, the account balance is distributed to the owner's beneficiaries according to certain rules. In many cases, beneficiaries can use planning techniques (even after the owner's death) to minimize taxes on the IRA (2006).
  
  
• Inheriting an IRA: Planning Techniques for Successor Beneficiaries. (MT200311HR) 
  When the owner of an IRA dies, the IRA account passes to his/her primary beneficiaries. When one or more of the primary beneficiaries dies, certain rules govern how successor beneficiaries inherit the IRA balance (2006).
  
  
• Letter of Last Instructions. (MT198904HR)
  Explains what should be included in a letter of last instructions to assist survivors after your death. (2005)
  
  
• Life Estate:  A Useful Estate Planning Tool (MT200510HR)
  If your estate-planning goals include allowing someone to possess your property during his/her lifetime before the estate passes on to another person or organization, then a life estate might be just the tool you need. (2007)
  
  
• Life Insurance: An Estate Planning Tool. (MT199211HR)
  Explains when life insurance should be part of a family's estate plan (2005). 
  
  
• Medicaid and Long-Term Care Costs.  (MT199511HR)
  Major changes have been made regarding Medicaid eligibility in light of the Deficit Reduction Act of 2005 that became effective February 8, 2006. Therefore the content of the previous Medicaid and Long Term Care MontGuide has been revised to reflect these new changes. Discard any copy you have dated before March 2007 (2007). 
  (Revised March 2007) 
  
  
• Montana's End-of-Life Registry (MT200602HR)
  This MontGuide answers commonly asked questions about the Montana End-of-Life Registry. (2008)
  
  
• Montana Rights of the Terminally Ill Act   (MT199202HR)
  Describes how you (or someone selected by you) can choose to terminate your medical treatment, should you have an incurable and irreversible condition that would lead to death without treatment (2008).
  
  
• Nonprobate Transfers. (MT199509HR)
  Describes the various forms of ownership that allow the deceased's property to bypass probate and transfer directly to beneficiaries. Includes sample contract. (2008) 
  
  
• Power of Attorney (MT199001HR)
  Explains the details--and concerns--of power of attorney, the act of giving another person authority to act in your place. Includes sample legal form. (2008)
  
  
• Probate in Montana . (MT199006HR)
  Guidelines and costs for the process of settling the estate of a person who had no will. (2008)
  
  
• Property Ownership. (MT198907HR)
  Describes the three main forms of property ownership, plus real-life examples of estate settlement for each (2007).
  
  
• Revocable Living Trusts. (MT199612HR)
  Defines and explains the benefits, shortfalls, costs and tax consequences of living trusts, including how it may affect nursing home care costs. (2005)
  
  
• Selecting an Organizational Structure for Your Business. (MT199708HR)
  Describes the various types of business structure: sole proprietorship, partnership, corporation and limited liability corporation. (1998)
  
  
• Transferring Your Farm or Ranch to the Next Generation. (EB0149) (Free)
  One of the most important--and most difficult--decisions many farm and ranch families will face is how to transfer their land and business on to the next generation. The publication includes sections on starting a conversation with family members who are in denial or reluctant to discuss the situation; how to pinpoint your own and family members' expectations; identifying what is important to each generation; and options for ownership. In addition, several worksheets will help both parents and children identify their goals and expectations. (2000) 
  
  
• Transferring Your Farm or Ranch to the Next Generation Through a QTIP Trust (MT200508HR)
  There are no easy answers to the question of how best to pass on your farm or ranch, or other property to your spouse or children. This Montguide examines concerns you may have, presents important considerations and explores several available options. (2007)
  
  
• Using a Bypass Trust to Provide for Children from a Prior Marriage (MT200509HR)
  Blended families can bring special challenges to estate planning. A bypass trust is one tool that can help you create a plan to effectively pass your property along to the people you want, the way you want. (2008)
  
  
• What is a Personal Representative? (MT199008HR)
  Explains Montana law covering personal representatives in settling estates (often called "executor" in other states) (2006).
  
  
• Who Get's Grandma's Yellow Pie Plate? Transferring Non-Titled Property. (MT199701HR)
  The transfer of non-titled property such as photographs and other family heirlooms often creates more challenges among family members than the transfer of titled property. Here's how to deal with some of the issues that may arise. (2007)
  
  
• Wills. (MT198906HR)
  Outlines why and how to construct a will, including costs, restrictions and changes after its completion. (2005)