Terms Used In Montana Code > Title 72 > Chapter 38 > Part 7 - Office of Trustee

• Conservator: means a person appointed by the court to administer the estate of a minor or adult individual. See Montana Code 72-38-103
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Fiduciary: A trustee, executor, or administrator.
• Interests of the beneficiaries: means the beneficial interests provided in the terms of the trust. See Montana Code 72-38-103
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Montana Code 72-38-103
• Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Montana Code 72-38-103
• Settlor: means a person, including a testator, who creates or contributes property to a trust. See Montana Code 72-38-103
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Montana Code 72-38-103
• Terms of a trust: means :

  (a)except as otherwise provided in subsection (21)(b), the manifestation of the settlor's intent regarding a trust's provisions as:

  (i)expressed in the trust instrument; or

  (ii)established by other evidence that would be admissible in a judicial proceeding; or

  (b)the trust's provisions as established, determined, or amended by:

  (i)a trustee or trust director in accordance with applicable law;

  (ii)court order; or

  (iii)a nonjudicial settlement agreement under 72-38-111. See Montana Code 72-38-103

• Trustee: includes an original, additional, and successor trustee and a cotrustee. See Montana Code 72-38-103
• Trustee: A person or institution holding and administering property in trust.