Step 2: Estate Planning
Create a Will and Letter of Last Instructions and Review Beneficiary Designations
- Step 2a: Estate Planning in Montana: Getting Started: Learn how and why to arrange for the future distribution of real and personal property
- Step 2b: Dying Without a Will in Montana: Who Receives Your Property: Discover legal terms and detailed examples of possible scenarios for distribution
of property should a person die before writing a will in Montana.
- Step 2c: Wills: Realize why a written will is necessary. The MontGuide includes information about
costs, restrictions, and how to update if changes occur in family situations. The
loved one with memory loss and the caregiver both need a written will.
- Step 2d: Designating Beneficiaries through Contractual Arrangements: Discover how a loved one with memory loss and the caregiver can transfer assets
through contractual arrangements, such as those commonly found with insurance policies,
individual retirement accounts (IRAs) and employee benefit plans, payable on death
designations, transfer on death registrations and beneficiary deeds.
- Step 2e: Letter of Last Instructions: Determine what should be included in a letter of last instruction to assist survivors. This is an important letter for both the caregiver and the loved one with memory loss.