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.
Some people believe that if they only have a small amount of assets they do not need a Will. While it is true that some assets can (with proper planning) pass outside of probate, and that other assets can pass with a small estate proceeding or affidavits of heirship, it is often difficult to