Convert To Ppt Legal Montana Small Estates Forms For Free

Wait 30 Days. At least thirty (30) days must have passed before the affidavit can be effective. ... Identify Property. First, make a list of all personal property in the estate. ... Fill out the Affidavit. ... Collect the Property.

The personal representative may be a family member, a friend, an attorney, a corporate entity such as a bank or trust company, or a combination of these. If you die without a will, the Montana UPC lists the order in which eligible persons may apply for appointment as a personal representative.

Montana Uniform Probate Code places limits on the amount of compensation that may be paid without a court order. The amount cannot exceed three percent of the first $40,000 of the value of the estate and two percent of the value of the estate in excess of $40,000.

If the decedent had a surviving spouse, transfer exempt property worth up to $15,000 in value to him or her. If there is no surviving spouse, divide the exempt property allowance equally among the children of the person who died. In deciding how much exempt property is worth, subtract any liens and encumbrances.

Small Estate Summary Administration The small estate administrative procedure can begin five days after the death of the decedent, and as soon as the personal representative determines that the value of the estate does not exceed the outstanding debt.

The entire estate of the person who died, after subtracting liens and encumbrances, is not worth more than $50,000. No application or petition for the appointment of a personal representative for this estate is pending or has been granted by any court.