How to Decide Which Assets to List on a Montana Small Estate Affidavit

Short answer: On a Montana small estate affidavit you should list only the decedent’s probate assets that you intend to claim through the affidavit, give an accurate description and the fair-market value (or state zero if the asset truly had no value at death), and exclude or separately note non-probate property (jointly owned property with rights of survivorship, beneficiary-designated accounts, life insurance with a named beneficiary, etc.). Be careful: false statements can carry legal consequences. This is general information, not legal advice.

Detailed Answer

1. What a small estate affidavit does (and doesn’t do)

A small estate affidavit is a simplified method for transferring certain personal property of a decedent without formal probate when the estate qualifies under state rules. It generally covers personal property and certain financial accounts, not complicated estates or some types of real property. The affidavit allows a person entitled to the property (an heir or beneficiary) to present the affidavit to a bank, custodian, or holder of property to collect or transfer the item named.

2. First step — identify probate vs. non‑probate assets

Before filling in the affidavit, make a complete inventory of the decedent’s assets and categorize each item as either probate or non‑probate.

• Probate assets: property owned solely by the decedent at death (bank accounts held only in the decedent’s name, personal property such as furniture, household goods, or some vehicles titled solely in the decedent’s name), and assets without a valid beneficiary designation or survivorship arrangement.
• Non‑probate assets (do not list as probate assets): accounts with named beneficiaries (payable‑on‑death or transfer‑on‑death designations), life insurance proceeds paid to a named beneficiary, retirement accounts with beneficiaries, property owned as joint tenants with rights of survivorship, and any asset that passes automatically by contract or statute.

Do not try to use a small estate affidavit to claim property that already passes outside probate — instead, present the applicable beneficiary designation or survivorship documentation to the custodian.

3. What to include in the affidavit for each asset

For each probate asset you plan to claim with the affidavit, include:

• A clear description of the asset (account numbers, vehicle make/model and VIN, household items if requested by the custodian).
• The value of the asset as of the date of death (fair market value). If the item had no value at death (for example, an account with a zero balance or an item that was worthless), you may list the value as zero — but be truthful and attach documentation if possible.
• Whether the asset has liens or encumbrances (e.g., a bank account subject to setoff or a vehicle with an outstanding loan). If there is a lien, note it rather than listing full value as freely available.

4. When to leave a line blank, put “0,” or state “not applicable”

• Leave a line blank only if the form asks for information that does not apply and the form instructions permit leaving it blank. If the affidavit expects an entry but a category does not apply, write “N/A.”
• Put “0” for value only if the asset truly had no value at the decedent’s date of death (for example, an account returned to zero, or a personal item that is valueless). Avoid using “0” to hide an asset that exists — that can create criminal or civil liability.
• If you genuinely do not know the value, state “unknown” and explain efforts you made to determine it (bank statements, appraisals, etc.). Consider obtaining a quick valuation or a bank statement to avoid problems when you present the affidavit to a custodian.

5. Common asset types and how to treat them

• Bank accounts: If the account was solely in the decedent’s name and qualifies under the small‑estate rules, list the account, the account number, and its balance at death. If the account had a payable‑on‑death beneficiary, do not list it as a probate asset; instead note the beneficiary designation.
• Payable‑on‑death/transfer‑on‑death accounts: These are non‑probate. Do not include their balance as part of the affidavit’s probate estate.
• Life insurance and retirement accounts: Do not list these as probate assets if they have valid named beneficiaries. If no beneficiary exists and the policy or plan payable to the estate, those proceeds may be probate assets and should be listed.
• Jointly owned property: Property owned with rights of survivorship passes automatically to the surviving owner and typically is non‑probate; do not list it as a probate asset. If ownership is unclear, confirm title documents and consult an attorney.
• Vehicles and real estate: Some small‑estate procedures exclude real estate or require a different process to transfer title. Check Montana rules before listing any real property. If the vehicle title is held solely by the decedent, the custodian (Motor Vehicle Division) may have a specific procedure—do not assume every asset can be transferred with the same affidavit.

6. Accuracy and supporting documents

Be accurate. Provide supporting documents when possible: account statements showing balances at death, titles, bills of sale, or appraisals. Many institutions will refuse to act on an affidavit without corroborating documentation. Keep copies of everything you present.

7. Why omissions or false entries matter

Intentionally omitting assets or misrepresenting values can expose the person signing the affidavit to civil liability and criminal penalties. If you later discover omitted assets, notify the custodian and, if necessary, correct the record. Transparency avoids disputes with heirs and creditors.

8. Where to find Montana law and local forms

Montana statutes and the legislature website provide text of probate and estate laws. For general statutory resources see the Montana Legislature website: https://leg.mt.gov. For court forms, procedures, and county-specific instructions, check the Montana State Courts website at https://courts.mt.gov or your county clerk/treasurer pages. Local banks and custodians may also have their own required affidavit formats.

Helpful Hints

• Start by gathering the decedent’s last 12 months of bank statements, title documents, insurance policies, and retirement plan statements. These documents reveal which assets are probate vs. non‑probate.
• When in doubt, ask the account custodian what documentation they require to release the asset under a small estate procedure.
• If a document asks for a value and you don’t have one, get a recent statement or a simple appraisal rather than guessing.
• Don’t list jointly‑owned property or beneficiary-designated accounts as probate assets. Instead, show the account title or beneficiary designation to the custodian.
• If an asset has an outstanding loan or lien, note the lien and obtain payoff figures before claiming the asset as freely available.
• Keep a complete paper and digital file of the affidavit, supporting documents, and any correspondence with custodians. This helps prevent claims by other heirs or creditors.
• If the estate has disputes among heirs, unclear titles, substantial debts, or real property, consider contacting a Montana probate attorney rather than relying solely on a small estate affidavit.
• Be aware that Montana county offices and different custodians may have local rules or preferred affidavit forms. Confirm requirements ahead of time to avoid delays.

Disclaimer: This article explains general principles and practical steps under Montana law to help you decide which assets to list on a small estate affidavit. It is not legal advice and does not create an attorney–client relationship. For advice about a specific situation, consult a licensed Montana attorney.