1. 1 National Risk Management Education Conference Reno, NV March 31, 2009

2. 2 Marsha A. Goetting Ph.D., CFP ®, CFCS Professor & Extension Family Economics Specialist Department of Agricultural Economics & Economics

3. 3 The Financial Risks of Dying Without a Will in Montana

4. 4 Project Collaborators

5. 5 Montana State University Extension Montana Grain Growers Association (MGGA) Montana Department of Agriculture State Bar of Montana School of Law, University of Montana

6. 6 7 out of 10 die without a will

7. 7 Have will 50 - 54 44% 70 - 74 75% 80 + 85% AgePercent

8. 8 Prior RMA Projects Majority indicated that “how Montana law distributes property” was the most valuable topic

9. 9 Interactive Web site www.montana.edu/ dyingwithoutawill

10. 10 CD For those with “slow” or no internet service

11. 11 Family Situations Single –13

12. 12 Family Situations Single –No Living Children Grandchildren Great grandchildren

13. 13 Family Situations Single –Have Living children Grandchildren Great grandchildren

14. 14 Family Situations Single –No Living grandchildren –Have Living grandchildren Great grandchildren

15. 15 Family Situations Married – 22

16. 16 Family Situations Married – – No Living Children Grandchildren Great grandchildren

17. 17 Family Situations Married – – Have Living Children Grandchildren Great grandchildren

18. 18 Married Example:

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26. 26 Example 33 fact sheets

27. 27 Marketing MGGA Grain News Montana Lawyer Media: – Montana newspapers – Radio

28. 28 Marketing Annual Young Ag Couples Conference Helena, 2007 - 2009

29. 29 Specialist Presentations Year#Locations 200685428 200784763 20081,62366 2009 (Jan-March) 320 3,644 16 173

30. 30 Web site “hits”  Web Trends  8,140  April – May 2008

31. 31 CDs mailed As of March 2009 – 815

32. 32 Evaluations 62 responses –CD56% –Web40%

33. 33 About participants Gender –Female 48% –Male 40% –No response 11%

34. 34 AgeCD%Web% Age CD% Web% 26 - 36 6 0 37 - 47 916 48 - 582444 59 - 692728 70 – 79*18 8 80 & over12* 0 *More likely to use the CD

35. 35 Usefulness (5 high) Both methods 4.24 –Mailed CD4.11 –Web site4.42 1 2 3 4 5

36. 36 Both methods 94% –CD 97% –Web 90% Able to find family represented

37. 37 Actions taken Family discussions 38% Draft will ( 1 st time ) 37% Revise current will 22% Software, book, or mail order form 13%

38. 38 Actions taken Contact attorney25% Draft/revise will in own handwriting 12% No action 8%

39. 39 Suggestions Make forms easily available More family configurations

40. 40 Suggestions Explain distribution if both husband & wife die at the same time, as in an accident

41. 41 Suggestions Good beginning info, but where do I go from here…and don’t say see an attorney

42. 42 Yes, recommend others CD Web 91%89%

43. 43 Share with others Spouse/partner58% Children 49% Other family members27% Friends29% Colleagues work 7% No one 7%

44. 44 How found Web site Article newspaper 48% Extension Agent 12% State Bar Website4% Montana Market Manager 4% Other, credit union newsletter, MSU homepage article, CREES newsletter 32%

45. 45 Most important gained Explanation of MT laws Knowledge of MT laws Clarification of MT law Understanding how my assets would be handled if I didn’t have a will

46. 46 The Financial Risks of Dying Without a Will in Montana Questions??? Questions???