Nonprobate Transfers
INSTRUCTIONS: MONTANA NONPROBATE TRANSFERS
This article discusses an information packet concerning nonprobate transfers made available by the website maintained by Montana State University Extension. This packet discusses various forms of ownership allowing the deceased's property to bypass probate and transfer directly to beneficiaries.
Montana Nonprobate Transfers Step 1: The first four paragraphs provide a general introduction to this document.
Montana Nonprobate Transfers Step 2: The next paragraph outlines various contractual nonprobate transfers.
Montana Nonprobate Transfers Step 3: The next three paragraphs discuss revocable living trusts.
Montana Nonprobate Transfers Step 4: The next paragraph provides a hypothetical example of how a revocable living trust would operate.
Montana Nonprobate Transfers Step 5: The next four paragraphs provide definitions of important terms relevant to nonprobate transfers.
Montana Nonprobate Transfers Step 6: The next four paragraphs on the second page concern multiple-party accounts.
Montana Nonprobate Transfers Step 7: On the right half of the second page, a uniform template for a single- or multiple-party account form is provided.
Montana Nonprobate Transfers Step 8: The first five paragraphs on the third page continue the discussion regarding multiple-party accounts.
Montana Nonprobate Transfers Step 9: The next three paragraphs concern Payable on Death (POD) accounts.
Montana Nonprobate Transfers Step 10: The next paragraph contains a hypothetical example of how a POD account can function.
Montana Nonprobate Transfers Step 11: The last six paragraphs of the third page contain information on registering a Transfer on Death (TOD) account.
Montana Nonprobate Transfers Step 12: The first three paragraphs of the fourth page continue the discussion concerning registering a Transfer on Death account.
Montana Nonprobate Transfers Step 13: The next three paragraphs concern ownership on the death of an owner.
Montana Nonprobate Transfers Step 14: The next two paragraphs contain a summary of the packet.
Montana Nonprobate Transfers Step 15: The next section of the document contains references.
Montana Nonprobate Transfers Step 16: The next section of the document contains acknowledgments.
Montana Nonprobate Transfers Step 17: The last paragraph contains a disclaimer regarding the uses of the packet as a guide in legal processes.
Montana Nonprobate Transfers Step 18: At the bottom of the page, a URL and email address are provided for those who wish to order additional publications. This portion of the document also contains information about reprinting the packet for nonprofit educational purposes.