Is a Will Worthwhile?
Friday, August 14, 2020
Some people wonder whether a Will is worthwhile, and worry about the cost.
Others wonder why they need a Will at all.
Some people wonder whether a Will is worthwhile, and worry about the cost.
Others wonder why they need a Will at all.
In general terms, Medicaid expects that a person who provides care for a relative does so for love and affection, and without the expectation of pay, either at the time of service or in the future.
Sometimes it does not matter who files first in a divorce situation.
Many people chose to have trust based estate plans, instead of relying only on Wills.
There are many good reasons to do a trust.
One reason is that a trust will often allow you to avoid probate after your death.
In Oregon, one can only file for divorce in a county where one party or the other lives.
The form of Advance Directives for Health Care in Oregon is set forth in statute.
In other states, Advance Directives for Health Care are sometimes called Living Wills, or Health Care Powers of Attorney.
Sometimes people put off applying for Medicaid far longer than they should.
This can result in far more money being spent paying for long term care privately than was necessary, if Medicaid could have stepped in earlier.
People sometimes wonder whether they gain an advantage by filing first in a divorce situation.
In some cases, the answer is yes.
Something that some people don’t think of relates to money passing to their children.
If you do not have a Will and are not married at the time you die, your children WILL get your assets (if you have children).
Many General Judgments of Dissolution (sometimes called Divorce Decrees) require retirement assets be split, or require some retirement assets to be transferred or assigned to the owner’s former spouse.