Montana Title 72. Estates, Trusts, and Fiduciary Relationships § 72-2-238. Exclusions, valuation, and overlapping application

(a) to the extent the decedent received adequate and full consideration in money or money's worth for a transfer of the property;

(b) if the property was transferred with the written joinder of, or if the transfer was consented to in writing before or after the transfer by, the surviving spouse; or

(c) if the property is life insurance or accident insurance payable to persons other than the decedent's surviving spouse or the decedent's estate.

(a) included in the augmented estate under 72-2-235, 72-2-236, or 72-2-237 is reduced in each category by enforceable claims against the included property; and

(b) includes the commuted value of any present or future interest and the commuted value of amounts payable under any trust, life insurance settlement option, annuity contract, public or private pension, disability compensation, death benefit or retirement plan, or any similar arrangement, exclusive of the federal social security system. The commuted value of life and term interests in income, annuity, or unitrust amount must be determined in accordance with U.S. treasury regulations for internal revenue purposes in effect at the time of the decedent's death.