National Make-A-Will Month: Put Your Wishes in Writing
August is National Make-A-Will Month, an annual reminder to take a step many people intend to complete but often postpone: creating a will or reviewing the one they already have.
A will provides clear instructions for the future, but its value goes beyond deciding who receives certain property. It can reduce uncertainty for loved ones, identify the person you want to administer your estate, nominate a guardian for minor children, and provide for charitable gifts. Just as importantly, Make-A-Will Month offers an opportunity to consider whether the rest of your estate plan still reflects your family, assets, and goals.
Why a Will Matters for Montana Families
A properly prepared will allows you to state how property controlled by the will should be distributed after your death. You may leave assets to family members, friends, or charitable organizations; address the distribution of personal items; and name a personal representative to manage the estate.
Parents of minor children can also use a will to nominate the person they would want to serve as guardian. Although a court makes the final appointment based on the children’s best interests, documenting your preference gives the court and your family important guidance.
A will should also work together with the way your assets are titled and with any beneficiary designations on retirement accounts, life insurance policies, or other accounts. Some property passes outside a will, which is why reviewing the entire plan is more useful than treating each document or account separately.
What Happens If You Die Without a Will in Montana?
When a Montana resident dies without a valid will, the state’s intestacy laws determine which relatives inherit property that is subject to probate and the shares they receive. That legal formula cannot account for every personal relationship or goal. It may not provide for a person or organization that matters to you, and it does not communicate your wishes about particular belongings, charitable giving, or who should settle your affairs.
Dying without a will does not necessarily mean the state receives everything. It does mean that decisions you could have made are instead governed by statutory rules. A thoughtful estate plan gives you a voice in those decisions and can make the administration process clearer for the people you leave behind.
A Complete Estate Plan Includes More Than a Will
A will is an important foundation, but it may be only one part of the plan. Depending on your circumstances, a comprehensive estate plan may also address the following:
Powers of Attorney
Financial and healthcare powers of attorney allow people you trust to act on your behalf if illness, injury, or incapacity prevents you from handling financial matters or making medical decisions.
Advance Directives
An advance directive can communicate your preferences about medical treatment and end-of-life care. Clear written instructions can reduce the burden on family members who might otherwise have to make difficult decisions without knowing what you would want.
Trusts
Revocable and irrevocable trusts can serve different purposes, including managing assets for beneficiaries, supporting probate-avoidance planning, preserving privacy, and addressing tax or asset-protection objectives. The right structure depends on the assets involved and the goals of the individual or family.
Special Needs Planning
Families caring for a loved one with a disability may use a special needs trust to provide additional support while protecting eligibility for certain public benefits. These trusts require careful drafting and administration.
Business, Farm, and Ranch Succession
For Montana business owners, farmers, and ranchers, succession planning may be essential to preserving value, maintaining operations, and preparing for a transfer of ownership or management. A will alone may not address all of the legal, tax, and practical issues involved.
Charitable Giving
An estate plan can also provide for organizations and causes that are important to you. Charitable gifts should be coordinated with the rest of the plan so that they are structured clearly and consistently with your overall objectives.
When Should You Review an Existing Estate Plan?
An estate plan is not something to prepare once and forget. It should be reviewed when life changes, including after a marriage or divorce; the birth or adoption of a child; the death or incapacity of a beneficiary, personal representative, trustee, or agent; a move to another state; or a substantial change in finances.
A review may also be appropriate after buying or selling real estate, starting or transferring a business, acquiring or restructuring a farm or ranch, changing charitable priorities, or learning that a beneficiary has new financial or care needs. Even without a major event, a periodic review can reveal outdated contact information, inconsistent beneficiary designations, or provisions that no longer fit your wishes.
Five Steps to Take During Make-A-Will Month
- Take stock of what you own.
List real estate, financial accounts, retirement benefits, insurance, business interests, vehicles, valuable personal property, and significant debts.
- Identify the people and organizations that matter to you.
Consider beneficiaries, guardians, decision-makers, trustees, charitable organizations, and anyone who may need continuing support.
- Review how assets will transfer.
Look at titles and beneficiary designations, not only the terms of an existing will or trust.
- Gather your current documents.
Collect wills, trusts, powers of attorney, advance directives, deeds, business agreements, and prior tax or planning documents.
- Meet with an estate planning attorney.
Legal guidance can help ensure that documents comply with Montana law, work together, and address the issues that matter most to you.
Make August the Month You Put a Plan in Place
Browning, Kaleczyc, Berry & Hoven helps individuals, families, ranchers, and business owners develop estate plans tailored to their circumstances and long-term goals. From a first will to a trust-based plan or a multi-generational business or ranch transfer, our estate planning attorneys provide practical guidance at every stage.
If National Make-A-Will Month has prompted you to create or update your plan, contact BKBH to schedule a consultation. We serve clients from offices in Bozeman, Great Falls, Helena, and Missoula.
This article is for general informational purposes only and is not legal advice.
