Page 29 - Senior Times South Central Michigan - September 2016 - 23-09
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Elder Law
Attorneys Helping Seniors
(269) 968-1101
● Asset Protection - Nursing Home
● Wills
● Trusts
● Durable Power of Attorney
● Durable Power of Attorney for Health Care
● Guardianships / Conservatorships
● Probate
● Trust Administration
Michael B. Walling
Elder Law Attorney
Offices in Battle Creek & Portage
Michael B. Walling, Attorney, Special to Senior Times
Senior Times - September 2016
Page 29
QUESTION: My daughter has two children ages four and six. She is a single Mom and struggling financially. If she died, she wants me to raise her children but she’s worried that I would not be able to support them. We are trying to fig- ure out what she can do to protect her children. We would appreciate any help.
ANSWER: You and your daughter are smart people to be looking ahead at things that may happen. That is the “planning” part of Estate Planning. By planning ahead, you not only save a lot of time and money in court, but you usually can achieve the results you want without complications.
One way your daughter can pro- vide for her children if she dies is
by creating a trust and funding it
with term life insurance. Term life insurance is quite inexpensive if you purchase it when you are young.
For instance, you can purchase a 20-year policy with a death benefit
of $500,000 (That’s a half a million dollars!) for about $30-$40 a month. Term insurance just means that you only have the insurance for the “term” (i.e., 20 years). If you live past the term, then you get nothing.
If your daughter died, the life insurance would pay out to her chil- dren. However, if her children are
under the age of 18, the money goes to the probate court in a conservator- ship account. It basically cannot be touched until the children turn 18. Then the children get ALL the money in a lump sum! So, let’s re-cap: No money is allowed to be paid out to help raise the children but when
the children turn 18, they each get $250,000! Not the best plan!
That’s where the trust comes in to play. The trust is created and named as the beneficiary of the life insur- ance. The trust then allows the person raising the children to use the money as needed. When the children turn 18, the money can be used for col- lege, buy a home, etc., but is not paid out to the children until they reach at least 25 or 30 years of age.
Michael B. Walling is an Elder Law attorney with a Master of Laws Degree. He is also the Managing Attorney of The Elder Law Center and the law firm of Michael B. Walling, PLC as well as a Law Instructor at Western Michigan University. Please send any questions you would like addressed to: Michael B. Walling, 4625 Beckley Road, Building 400, Suite 4003, Battle Creek, MI, 49015. You may also call (269) 968-1101 to set up a free initial consultation. This column is intended for general information purposes only and should not be considered as legal advice to any particular person.
Jane Johnson Retires
Maplewood of Marshall is a beau- tiful Assisted Living in Marshall. There are 55 spacious apartments, either studios or one bedroom. It is a place where each life matters.
Karin Gallagher is the Director of Marketing. Many of you might know her because she is involved in a lot of the life in the area. Karin is not only a marketer but also Social Worker who is ready and willing to help out for multiple causes. She is a great person and an asset to our team.
Shirley Cable is the Dietary Manager; she is a cook extraordinaire. She was a natural also in Activities
or as a PSA when she started at Maplewood 16 years ago. Willing to help and take on more responsibility for the people she enjoyed has been the trajectory of her career.
Another 16-year veteran is Judy Pierce, Personal Service Assistant. Judy has been integral in the develop- ment of the Memory Care Program and for most of that time worked with those very special people.
The following is a list of the people who have made a differ-
ence at Maplewood for 10 years or more: PSAs Kim Bartlett and Anita Smith; Licensed Nurse Linda Smith; Activities Director Kristi Howell; Maintenance Director John Walbeck;
Laundry Personnel Julia Hays; and Tyler Shinn, Dietary Server.
Dietary has the lions share for the over five-year group: Cook, Bobby Adams and servers Virginia Klingaman, Mary Bender, and Ryan Tucker. To join them is Nurse, Ramona Benham, Business Office Manager, Diana VanderWeg, and Maintenance Assistant, Tom Whitesell.
It has been a great pleasure to work with these wonderful people and many more over the last 16 years. From this experience I take away a greater respect for the difficulties
of moving out of your home, losing the battle to remain your own boss
or to have the freedom of driving. The guests, family, friends, and staff
I have had the opportunity to share stories with, to laugh with, to cry with, in essence to share life with, are rich memories I take with me. My life has been touched and changed
in so many ways. Now in retirement
I will write, play with grandchildren (six Grandsons), work as a Faith Community Nurse, and re-establish my Life Coaching & Supportive Services Business. It is with great excitement I look forward to various plans and yet looking back I smile through the tears of life’s moments.
Thank you Maplewood for being my home away from home for the past 16 years.
Jane Johnson, Community Manager
Please join them at Maplewood, on September 9 from 4-6pm as they bid happy days of retirement to Jane.
From Maplewood

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