If a resident of Montana died owning any of the property described below (regardless of whether they had a will or not), you should contact Matrium Law Group at (406) 552-7814 to determine whether the property will need to be probated in order to get it out of their name and into the names of the rightful heirs.
1. Individual Assets: Individual assets include all property titled in the deceased’s sole name, without any other owners or a payable on death or similar type of beneficiary designation. Types of assets that could be titled this way include bank accounts, investment accounts, business interests, real estate, and vehicles (motor vehicles, trailers, semi-trailers, pole trailers, campers, motorboats, personal watercrafts, sailboats and snowmobiles).
2. Tenant in common Assets: Tenant in common assets include all property titled in the deceased’s individual name as a tenant in common with others.
3. Beneficiary Assets with predeceased beneficiaries or no designated beneficiary: Beneficiary assets include assets with a payable on death (POD) or similar type of beneficiary designation, a life insurance policy, or a retirement account, where all of the named beneficiaries of the account or policy have predeceased the decedent, or where the decedent failed to name any beneficiaries at all.
Matrium Law Group is a family law and estate planning law firm. We are committed to providing excellent, practical, and affordable legal counsel to our clients. We are located in Missoula, Montana and we help individuals, families, and businesses throughout Montana. For more information about Matrium Law Group, visit our website at www.matriumlaw.com.