Disclaimer: This information is for educational purposes only and does not constitute legal advice. Consult a licensed Montana attorney for guidance tailored to your situation.
Detailed Answer
In Montana, you may use the small estate affidavit process to transfer certain personal property outside formal probate. Under MCA 72-2-111, if the decedent’s personal property totals $50,000 or less and no probate administration is pending, heirs can collect assets by presenting an affidavit to the custodian. Follow these steps:
- Confirm Eligibility
- The estate’s personal property must not exceed $50,000 in value.
- No formal probate administration has been filed.
- At least five days have passed since the date of death.
- Identify Heirs
Determine distributees under Montana’s intestacy rules in MCA 72-2-103. Typically, surviving spouses and children share equally if there is no valid will.
- Inventory and Value Assets
List all personal property, such as bank accounts, vehicles, furniture, and securities. Secure fair market valuations for each item.
- Prepare the Affidavit
Use the statutory form or draft an affidavit including:
- Decedent’s name and date of death.
- Claimant’s relationship to the decedent and status as an heir.
- An itemized list of assets with values.
- A statement that the estate qualifies under MCA 72-2-111.
- Sign and Notarize
Sign the affidavit before a Montana notary public to meet notarization requirements.
- Present to Custodian
Submit the notarized affidavit to banks, dealerships, or other holders of assets. Each custodian may require additional forms.
- Distribute Assets
Divide property according to the intestate distribution or the decedent’s valid will. Obtain written acknowledgments from all recipients.
- Settle Debts
Before distributing assets, ensure valid funeral expenses and debts are paid from available estate funds.
Helpful Hints
- Obtain multiple certified copies of the death certificate early in the process.
- Use certified or registered mail to deliver affidavits to custodians and retain proof of delivery.
- Maintain clear records of all transactions, distributions, and receipts.
- Verify through the county clerk’s office that no probate administration is pending.
- If eligibility is unclear, seek confirmation from a licensed attorney to avoid mistakes.