closing_estatedoc：closing_estatedoc.docVIP

How to Be the Personal Representative for a Small Estate Who Can Use These Forms? You can use these forms if you: Are 18 years old or older; Want to close the estate of a person who died; Have priority to be personal representative (read pages 5 and 6); Know the person died less than 3 years ago, but more than 5 days ago; Know the person died while living in Montana; and Know the estate is a small estate under Montana law. What Makes an Estate a Small Estate? In Montana, what is allowed in a small estate depends on who survives the person who died. Under Montana law, a person “survives” someone else by living 120 hours longer. It may be hard to deal with an estate where someone and his or her spouse or child died close in time to each other. If a person lives less than 120 hours (5 days) after the first person dies, he or she is treated as if he or she died before the first person. Ask a lawyer if you have questions. If a spouse or a minor or dependent child survives the person who died, the small estate can include: A homestead allowance of $20,000 or less to go to the spouse, or if the spouse doesn’t survive, to be divided equally among minor and dependent children; A family allowance of $18,000 or less; If a spouse or a son or daughter of any age survives the person who died, the small estate can also include (in addition to applicable items above): Exempt property worth $10,000 or less. All small estates can include (in addition to applicable items listed above): Money needed to pay the costs of administering the estate; Money needed to pay reasonable funeral expenses; and Money needed to pay the reasonable and necessary hospital and medical expenses for the last illness of the person who died. Read more about how to give out these things below. When deciding how much the estate is worth, subtract any liens or encumbrances. For example, if a lender has a $2,000 lien on a car worth $5,000, the car is worth $3,000. What Is a Personal Representati