Montague Reid Rasmussen was a key figure in Lake Forest, Illinois, particularly known for his contributions to veterans' affairs. He was the founding commander of the Lake Forest American Legion McKinlock Post 264, which was established shortly after World War I to support veterans and the community. Rasmussen held this position and was instrumental in guiding the post as it became a fixture of community support in Lake Forest, organizing events, scholarships, and public service initiatives that continue to this day. Post 264 also sponsors local Boy and Girl Scout troops and holds ceremonies on national holidays to honor veterans, among other community programs.

Rasmussen ran Rasmussen’s Shoe Store in Lake Forest for decades, building a local business that became part of the town's history. Later in life, he and his wife Hester relocated to Redlands, California, where he lived until his passing on January 18, 1963. His legacy in Lake Forest persists, with the American Legion post he helped establish remaining active and influential in veteran support and community engagement.