Terms Used In Montana Code > Title 72 > Chapter 14 > Part 4 - Fiduciary Deposit in Certain Cases Claims -- Escheat

• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Decedent: A deceased person.
• Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Legatee: A beneficiary of a decedent
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Property: means real and personal property. See Montana Code 1-1-205
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• Trustee: A person or institution holding and administering property in trust.