Be on the Lookout for New Scams - They Might Be Targeting You Be on the Lookout for New Scams Targeting Seniors Last year, the FBI warned that fraud crimes targeting senior citizens are rising drastically and getting more advanced. An estimated $28.3 billion is lost to elder fraud scams each year, and that number is growing. We want our clients to be on the lookout for these scams and to warn your friends and family about them too. Phone call scams where you are told you have won a great prize have been around for a long time, and most people know to hang up the phone immediately. Sadly, sca ..read more

What Legal Steps Should I Take Before a Major Procedure? What Legal Steps Should I Take Before a Major Procedure? When you discuss a major procedure with your doctor, it can get you thinking about what will happen if something goes wrong. It is always better to be safe than sorry, and having the following documents in place in addition to your will or trust can give you some peace of mind heading into a medical operation. A will dictates what happens to your property after you pass away, but does not provide for management of your property if you are incapacitated. A trust dictates what happ ..read more

New Corporate Transparency Act Reporting Obligations for Small Business Owners New Corporate Transparency Act Reporting Obligations for Small Business Owners The Corporate Transparency Act was established by Congress for the purpose of cracking down on “front” companies used for organized crime. The Act, and its reporting requirements, will be operated and regulated through the Financial Crimes Enforcement Network (FinCEN). The FinCEN Small Entity Compliance Guide is a good resource for business owners. Who Has to Report? If you own a Corporation, S Corporation, LLC, Limited Partnership, or ..read more

Giving to Charity Estate planning with a team-based approach Several years ago, I enjoyed reading the book, “The Boys in the Boat,” by Daniel James Brown. Recently, I saw the movie adaptation which was directed and co-produced by George Clooney. It is the story of the University of Washington’s eight-oar crew team that won the gold medal at the 1936 Olympics hosted by Nazi Germany. It is a story that ended in triumph for the young men who made up the crew team. They were the sons of loggers and other working-class families in the northwestern United States who, when the team was first assemb ..read more

Giving to Charity Giving to Charity We are all blessed to live in a giving community. Over the years, I have had the privilege of serving on several non-profit boards in Great Falls, including Community Help Line, Children’s Museum of Montana, Montana School for the Deaf and Blind Foundation, Great Falls Public Schools Foundation, and Benefis Health System Foundation. Our office has, for the last couple of years, selected a “charity partner” of the year. We worked with Special Olympics Montana in 2021, Meals on Wheels in 2022, and Family Promise of Great Falls in 2023. Our staff has particip ..read more

The Value of Using Irrevocable Trusts in Medicaid Planning People often wonder about the value of using irrevocable trusts in Medicaid planning. Certainly, gifting of assets can be done outright, not involving an irrevocable trust. Outright gifts have the advantages of being simple to do with minimal costs involved, including the cost of preparing and recording deeds and the cost of preparing and filing a gift tax return. Many financial institutions have their own documents they use for changing ownership of assets so there are typically no out-of-pocket costs for the transferor. So, why co ..read more

Planning Checklist For Those Assisting Elderly Family Members I gave a presentation a few years ago at a local assisted living facility. The topic was powers of attorney and guardianships and conservatorships. Half of the attendees were children of residents at the assisted living facility. Based on the questions that they asked me; it was clear that most of them just had a basic or rudimentary understanding of the estate planning needs of their parents. This got me thinking about putting together a short estate planning checklist for family members who are assisting a parent or elderly famil ..read more

2023 Montana Legislation Changes - How will it Impact Estate Planning Going Forward The 2023 Montana Legislature enacted several bills relating to estate planning and administration. The bills make planning and estate administration easier and less costly.   Use of Affidavits to Avoid Probate Montana law provides that probate is required when a person dies with real estate of any value in his or her sole name. If a person died owning property other than real estate (“personal property”), and the value of all such property was less than $50,000, a probate was not required. The personal r ..read more

Our Charity Partner of the Year - 2023 This year, Montana Estate Lawyers has selected Family Promise or Great Falls as our 2023 Charity Partner of the Year. Family Promise was chosen because of their passion to help others and dedication to transforming the community. Family Promise is one of several organizations in Great Falls, Montana, responding to the homelessness. Each organization has a particular focus. Family Promise is dedicated to ending childhood homelessness, one family at a time. Family Promise assists homeless families with emergency housing and other services to get them read ..read more

Why Updating Beneficiary Designations is Important Beneficiaries are an important part of wills and trusts, but beneficiary designations can become a huge problem if they are not updated. Beneficiary designations on your retirement accounts, IRAs, annuities and life insurance policies override wills or trust provisions. This means that people you don’t intend to inherit your assets could in fact get your money if you were to die. There are hundreds of stories where husbands and wives get divorced, and forget to change the beneficiary designations on their life insurance or retirement plans ..read more