Revocable or Irrevocable

• The state of Montana recognizes living trusts as revocable, unless the trust agreement expressly makes it irrevocable. Death of the trustor also makes the trust irrevocable.
  
  

Taxes

• A living trust in Montana does not mitigate taxes unless it is irrevocable. Any income earned is taxed to the trustor when the trust is revocable. When the trustor dies, the contents of the trust are taxed as a part of the trustor's estate.
  
  

Debts

• The title to the contents of a revocable trust can be changed at any time. The state of Montana recognizes the content as property of the trustor. Any debts, including nursing home costs, can be charged to the trust or the trustor.
  
  

Probate

• While a revocable trust in Montana is exempt from probate, the fees associated with the trust management can exceed probate fees.