Page 25 - Senior Times South Central Michigan - October 2017 - 24-10

Senior Times - October 2017
Page 25
THE ELDER
LAW CENTER
Helping Seniors Preserve Their Lives
Asset Protection Planning for Persons in a Nursing Home or Entering a Nursing Home Powers of Attorney • Wills • Trusts • Probate
Don't Lose Everything You Have To the Nursing Home
I can help you save up to 100% of your assets.
Michael B. Walling, J.D., LL.M.
Let me help you properly draft and fund a trust before you or your spouse enter a nursing home; it could save you over $50,000!
MICHAEL B. WALLING
Elder Law Attorney
Author of "Ask the Attorney"
Call for a free
initial consultation*.
*Except Asset Protection Planning
(269) 324-7344
Offices in Portage & Battle Creek
www.wallingplc.com
Helping Seniors preserve their lives for more than a decade.
ask
THE ATTORNEY
Michael B. Walling, Attorney, Special to Senior Times
LADYBIRD DEED
QUESTION: What is a ladybird deed? I keep hearing about them. What do they do? Do we need one?
ANSWER: Ladybird deeds have become popular in recent years. The name is a bit unusual but I use them often. A better way to think of them is as a “transfer on death” deed. Ladybird deeds are used mainly to avoid probate and to avoid the estate recovery act.
A ladybird deed is a deed that auto- matically transfers ownership of your home (or other property) to someone when you die. You can think of it like naming a beneficiary on your home.
With a ladybird deed, you still main- tain full control over your home while you are alive. For instance, you can take out a home equity loan, you can rent your home out, and you can even sell
it. When the time comes and you pass away, the ownership automatically trans- fers to whoever you named in the deed to receive your home. It could be your children, sibling, friend, etc.
One benefit of a ladybird deed is that it avoids probate. It does this because it directly transfers your home (or other property) to the person you named to receive it. There is no need for the pro- bate court. A word of caution though; Your Last Will and Testament will not
control what happens to your home
if you have a ladybird deed. Why? Because the ladybird deed will transfer your home directly to the person you’ve named. Your Last Will and Testament will not have any control over that.
Another benefit of a ladybird deed is when you own a home but you are in a nursing home and receiving Medicaid. You then should absolutely have a lady- bird deed prepared for you (your power of attorney can do it if you are unable). The ladybird deed will keep your home out of the reach of the estate recovery act. This is the act where the State of Michigan will take up to 50% of the value of your home after you die to repay Medicaid.
Michael B. Walling is an Elder Law attorney with a Master of Laws Degree. He is the Managing attorney of The Elder Law Center and the law firm of Michael B. Walling, PLC. Mr. Walling
is also a part-time Professor at Western Michigan University. Please send any questions you would like addressed to: The Elder Law Center, 4625 Beckley Road, Building 400, Suite 4003, Battle Creek, Michigan, 49015. You may also call (269) 968-1101 to set up a free ini- tial consultation. This column is intended for general information purposes only and should not be considered as legal advice to any particular person.
Dementia Capable
Dementia Capable Care is a training and certification course for professional and family caregivers to increase the understanding of dementia and improve communication and care for persons with dementia. The training introduces a best-abilities, person-centered approach to caring for persons with dementia. Participants will learn about the types and stages of dementia, communication tools and techniques, the role of memory and function in terms of a person’s best ability to function, behavior management strategies, and supporting families and caregivers.
Participants who com-
plete the course and pass
the certification exam
will receive a Dementia
Capable Care Specialist certification, sponsored by Crisis Prevention Institute (CPI).
WHO SHOULD ATTEND? Paid care- givers for persons with dementia, family members who provide care for a person with dementia, professionals who work with seniors or persons with dementia
and/or caregivers. Course Options -
• Saturday, October 21, 9am-4pm, (Please bring your lunch.)
• Saturdays, Feb 10 & 17, 9am-12pm The Training is offered at Kellogg
Community College, Ohm Information Technology Building, Room 109. Your $75 fee includes training and textbook. To register or for more informa-
tion contact KCC’s Lifelong Learning Department at (269) 965-4134 or ll-info@kellogg.edu.
This training is made possible by a grant from the Battle
Creek Community Foundation and is a sponsored activity of the Dementia Friendly Battle Creek Initiative. Other in-kind support provided
by CareWell Services SW, Home Care Transitions, Inc., Kellogg Community College, WW Thayne Advertising Consultants, Inc. (Senior Times), Bronson at Home, Alzheimer’s Association - Great Lakes Chapter, and Miles for Memories.
Care Training
Calhoun County’s ONLY Authorized Armstrong
THE YELLOW Dealer TRUCK PEOPLE
269-963-7910 • 466 Main St. Battle Creek, MI simselectricinc@hotmail.com • www.simselectricinc.com License # Electrical – 6112007 • License # Mechanical – 7103902
Battle Creek’s assisted living choice for seniors, owned and operated by Cretsinger Care Homes, Ltd. Offering supported or full care for a fixed rate. Please contact Renee Kelly for information.
(269) 964-8292
Pennfield Premier Living
632 North Avenue Battle Creek MI 49017
www.CretsingerCareHomes.com
Autumn Greetings!
Licensed Adult Foster Care