Serving Southern Jefferson County in the Great State of Montana
Serving Southern Jefferson County in the Great State of Montana
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For the last 41 years, Montanans have donated their bodies to the Montana Body Donation Program (MBDP). Some Montanans are motivated by the desire to make a contribution to medical education. Others donate because they want to recognize the value and importance of using bodies for educating present and future health professionals about human anatomy. These include doctors, nurses, dentists, physician’s assistants, physical therapists, and students. Still, others donate because of their hope that knowledge will be gained to help future p...
This is part of monthly series of articles focusing on estate and legacy planning. Authors are Kaleena Miller, Madison-Jefferson County Extension Agent, kaleena.miller1@montana.edu, and Marsha Goetting, MSU Extension Family Economics Specialist, goetting@montana.edu. A person can create a testamentary trust with a written will says MarshaGoetting, MSU Extension family economics specialist. A testamentary trust is one that is set up according to the instructions contained in a person’s last will and testament. The owner’s property, such as sto...
When a Montana resident dies, state law provides a process for deciding who is legally entitled to inherit financial accounts the deceased had with banks, credit unions or other entities such as brokerage firms. Montana property and contract laws, and provisions under the Montana Uniform Probate Code, dictate who becomes the legal successor(s) of certain accounts. “For example, when two people have a savings account in joint tenancy with right of survivorship, the surviving joint tenant becomes the legal successor. If an owner placed a p...
What if you were in an accident and were in intensive care for several weeks? What if you got COVID-19 and spent time in the hospital? Who would manage your finances while you were getting well? Who would protect the assets you have worked so hard to accumulate? A financial Power of Attorney (POA) is a legal tool that could help, said Kaleena Miller, MSU Madison-Jefferson Extension Agent. Montanans Marge and Jack have each executed a POA and have shared their reasons for doing so. Marge, age 79, is aware she becomes stressed when faced with...
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....
