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3. 2007 National Extension Risk Management Education Conference

Dying without a Will in Montana

Marsha Goetting

Summary

Sale of land is a major financial risk for farmers and ranchers who die without a will because of state intestacy distributions to spouse and children, some of whom may lack interest in farming/ranching and demand their inheritance in cash. Many of the 842 participants in the 2004-2005 estate planning programs indicated the topics “Montana law and property distribution” were the most valuable. A web site and interactive CD illustrating how property passes under Montana law when a person dies without a will is under process of development. We anticipate that those who use the CD and Web site will become motivated to contact their attorney to write a will. The CD and Web site format could be easily adapted in other states. At the session the proto-type of the CD will be demonstrated with other illustrations of how property title also affects distribution of property after the death of the owner.

Details

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