Create a Living Trust in Montana

A living trust can help you manage your property while you are alive, and when you pass away. Living trusts offer more protections than last wills in some cases, and can help your family avoid the expensive probate process. Find out more about how living trusts work in Montana.

Find out more about Living Trusts

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create a living trust in montana

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Updated on: February 6, 2024
Read time: 4 min

A Montana living trust may provide you with the control of and privacy for your assets you are seeking in your estate planning. There are a variety of benefits stemming from the use of a revocable living trust that may appeal to you.

Living trusts in Montana

A living trust in Montana is a legal document created by the trustor. The trustor sets up the trust and places his assets in the ownership of the trust. When you create a living trust, (also called an inter vivos trust) you must select a trustee. The trustee is the person who manages the assets according to the terms of the trust, which directs that they be used for your benefit during your lifetime. Anyone can be your trustee, but most people choose to be their own trustee, staying in control of the assets. The goal is usually to place as many of your assets into the trust as possible to benefit the most from the protections it offers. Some assets, such as retirement accounts cannot be owned by a trust and must remain in your name. The revocable trust can changed by you at any time during your life and can even be completely eliminated if you wish. An irrevocable trust is different and becomes unchangeable once signed.

A successor trustee must be named to take over trust management after your death. The trustee will continue to safeguard the assets in the trust and pass them on your beneficiaries according to the terms of the trust.

Trusts do not need to go through the probate process to become valid, unlike a will which must be approved by a court and then put into effect. A trust can distribute assets immediately after your death if you wish, whereas assets passed by a will must wait for probate to conclude. Probate often takes many months and incurs the fees of an executor and attorney as well as court costs. Montana has enacted the Uniform Probate Code, so its procedures are streamlined, yet still are in no way immediate. Montana provides for a streamlined, less expensive proceeding for estates worth less than $50,000, in which case a trust would likely be more expensive. If you own property in more than one state, a living trust allows you to avoid probate proceedings in all of the states where your property is located.

The assets in a Montana living trust are subject to a spouse’s right of election. This gives a surviving spouse the right to inherit a certain percentage of the deceased spouse’s estate even if the surviving spouse has been disinherited.

Do I need a living trust in Montana?

One of the protections offered by a living trust in Montana is privacy. The terms of the trust, including the assets in the trust and the names of the beneficiaries, do not become public record and do not have to go through a court process. Wills, in contrast, are public record and require a court process. In addition, a trust is much more difficult to contest, ensuring that your plan will remain in place.

When you create a living trust in Montana you also remain in complete control of your assets. While you are alive, you live in your home, spend your money, make investment decisions, and can give away or dispose of anything you want. Although the assets are owned by the trust, this does not change your life. After you die, you are able to maintain control over the assets as well by dictating in the trust when and how they will be distributed to your beneficiaries. You can choose immediate distribution or select future dates. If you use a will to pass your assets, they are transferred once probate is concluded.

A revocable living trust protects you should you become mentally incapacitated. All of your assets are already controlled, owned, and managed by the trust and a conservatorship proceeding is likely unnecessary. Your financial life is protected by the trust.

Living trusts and estate taxes in Montana

Estate taxes are often a reason people cite for using a living trust. In fact, a living trust does not protect your assets from estate taxes. While Montana does not have an inheritance tax, there is a federal estate tax applied to estates worth more than $5 million. It is possible to avoid estate tax by using an AB trust, sometimes called a martial or QTIP trust, to pass assets from the deceased spouse to the surviving spouse. Living trusts also will not protect your assets from Medicaid spend down laws or from creditors.

How to create a living trust in Montana

Creating a living trust in Montana occurs when you sign a written trust document in front of a notary and then transfer the ownership of your assets to the trust. The trust is not complete or effective until ownership is transferred. A living trust, when executed properly, can provide a variety of protections and benefits. A revocable living trust may be right for you.

LegalZoom can help you create a living trust online in three simple steps. The process begins by completing a simple questionnaire. LegalZoom reviews your answers and sends your complete living trust package by mail.

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This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law.

55 days ago
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Grateful to Patti Green

Patti Green helped me so much to finish my order. She was very patient and pleasant with me and guided me so well with my living trust. She made it clear and explained things that I could understand to finish this. She is an asset to your company and I would recommend her with excellence

CU
57 days ago
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I had no Idea what to do to update my…

I had no Idea what to do to update my Living Trust. They answered all my questions and they also helped me get info I did not know I needed.

Bryan Q
63 days ago
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Living Trust Premium

Our Representative, Stormy was fantastic! She stayed with us through the whole process. She was very helpful and thorough.

sremeikis
71 days ago
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I spoke to the representative today about a Trust...

I spoke to the representative today regarding a question about an existing Living Trust. She was very helpful - told me exactly what I needed to know and how to accomplish it. As a representative in the Financial field I guide clients all the time on where to get documents done right - and its always LegalZoom - easy and effecient!

Gareth
73 days ago
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LegalZoom

I was impressed by the user-friendly interface and the outstanding support I received while creating a Revocable Living Trust. The ability to connect with support representatives in real time to address my questions was incredibly valuable. For those looking to establish a straightforward trust, I can highly recommend LegalZoom.

TDM
79 days ago
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Rida has been very helpful with respect…

Rida has been very helpful with respect o guiding me through the process of properly revising the Living trust for my elderly parents. His patience has been exemplary.

Frantz Michel
87 days ago
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Elizabeth Tisdale

Elizabeth Tisdale, knowledgeable,been having problems with the forms in my living trust,for the past two weeks and had to pay every time, Elizabeth was patient with me and explained every detail until it was corrected,she get my 5 stars

MARIA CORONA
87 days ago
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Taking the Initiative

Taking the initiative to do the info. research on our living Trust...set up back in 2016..Made the call an efficient, as well as a pleasant experience. Very thorough and friendly. Set up our atty consultation Thanks for great service!

Vicki Switzer
94 days ago
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Carmen was so patient with me

Carmen was so patient with me! Thank you for all your direction and guidance with my living Trust! Great job!

Tina Garcia
97 days ago
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Tammy was wonderful and very…

Tammy was wonderful and very knowledgeable. It's because of her that I am going to open a living trust with legal zoom. She was great. Thank You

Erin
105 days ago
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Pleasant Experience

Patience and weel given explanation about the process of how a "Living Trust" & "Deed" works after transitioning and guidance on how to contact an attorney whenever I need legal advice.

Sharron Martin
105 days ago
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Excellent LegalZoom Attorney

The LegalZoom attorney was extremely helpful in the "walk thru" assistance as I prepared the Living Trust document. The service was excellent.

customer
114 days ago
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Happy with my initial contact with Legal Zoom

Rebecca fully answered my questions about creating a living trust. She is friendly and professional, and with my mind at ease, I am looking forward to starting this process with Legal Zoom. I am confident that this will be the best route for me to take to make things a lot easier for my family when I'm gone. (And, easy for me!) I plan to be in touch in the next several weeks. Thanks, Rebecca!

Carol
132 days ago
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Michelle very professionally guided me…

Michelle very professionally guided me with her knowledge and amazing patience through the entire process of setting up my Living Trust. I am so relieved and grateful for her help. I have used LegalZoom before and you are my go to for legal advice. Thank you again Michelle.

Paula Bateman
140 days ago
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Quality Staff

I needed to revise my entire living trust and had put it off for years. Your staff member Eden walked me through the process with such patience and concern. Had I known it would be so easy, I would have never put it off this long. A testament to you quality staff.

Ady Filipescu
149 days ago
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Really great job in guiding me to…

Really great job in guiding me to finish my living trust .

Ronnie Ball
155 days ago
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5 Stars

5 Stars – Outstanding Customer Service from Tammy at LegalZoom I had the pleasure of working with Tammy from LegalZoom regarding my living trust documents, and I couldn't be more impressed. She was professional, patient, and incredibly knowledgeable. Tammy took the time to walk me through every step, answered all my questions clearly, and made a complex process feel simple and stress-free. Her attention to detail and genuine care made all the difference. LegalZoom is lucky to have someone like her on their team. Thank you, Tammy!

Cn
155 days ago
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Ease and help of making changes to my…

Ease and help of making changes to my living trust. LegalZoom rep walked me through the process without any difficulties. Really like working with LegalZoom.

Gregory Bechtol
162 days ago
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Enjoyed working with Kevin to finalize…

Enjoyed working with Kevin to finalize our Living Trust language. His knowledge on this product certainly increases our confidence in the viability of the final document.

JOHN in CALIFORNIA
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