; Managing Property Title Risks for Montana Farm/Ranch Operators | Conferences | AgRisk Library


Conference Name Managing Property Title Risks for Montana Farm/Ranch Operators

Marsha Goetting


Montana’s partnership for addressing intergenerational risks for farm/ranch families who do not have a written transfer plan is the focus of this presentation. The presenter will demonstrate the innovative “participant involvement technique” that has been piloted tested during face-to-face estate planning workshops in 17 locations. The combination of contract law and the Montana law of intestate succession will be used as an example because 70 percent of Montanans do not have a will and 81 percent of farm/ranch owners operate under a sole proprietorship. Attendees at the conference can easily see how the content and presentation technique could be adapted for a variety of topics for their specific state and situation.

Highlights from the interactive video conference held in 12 locations will be shared. Further topics will be included as time permits to show how this project is assisting families with avoiding the financial risks of unnecessary taxes or probate fees; the potential sale of land because heirs demand their inheritance in dollars; potential breakup of families and marriages; family arguments; as well as assets passing to undeserving or distant heirs.

The presenter will also describe the partnership between MSU Extension Service and the State Bar of Montana with the development of a web site containing 27 different estate planning MontGuides. Other partners include the Montana Grain Growers and Mountain States Beet Growers. Finally, the presenter will share plans for the evaluation to be conducted in the spring of 2005.