Page 9 - Senior Times South Central Michigan August 2020 - 27-08
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you pass away as well.
Another reason many people create trusts is
make sure that he or she does not get anything (or as much as your other children) upon your death for example, a trust is an excellent way to protect your other children from an unreasonable challenge by a disinherited child, On the flip side, if you have a step child, or other unrelated person that you would like to inherit part of your estate, just like a biological child would, a trust is an excellent way to do that.
estate. Luckily, over the past several years, the inheritance tax limit has gone up considerably, and most people do not have to worry about this issue. In fact, with a new round of tax cuts, the exemption went up to $11.2 million per person and that stays in effect until 2025. So, if you are a couple and have under 22 million dollars, you do not have to worry about inheritance tax (at least until the year 2025.)
to protect assets for their children in a second (or third or fourth) marriage situation. If you leave everything to a new spouse, and then you pass away, if your new spouse remarries, or has chil- dren from the first marriage, your kids could end up being disinherited by that new spouse, and
all of your assets could eventually end up with someone who is not even related to you. If you set up a living trust that says everything goes to your children, even if you are married to a new spouse, you can protect those assets. Of course, you can leave assets to the new spouse, too. However, if you want to be sure that your children are not dis- inherited, you can leave assets to them as well.
Other reasons why a trust might be in order are for things like creditor protection or protection
of certain assets in order to qualify for long term care benefits, These are very specific reasons that often have to do with protecting assets in cases where the client has unusual circumstances. Trusts can be used as tools to help protect assets if the situation calls for it.
These are just a few of the many reasons that people create trust agreements. As you can see, they can be very beneficial in many instances.
If you have any questions about creating a trust please be sure to seek the advise of a trusted attor- ney to learn all of you options.
Also, trusts can be used if you want to be sure one of your heirs does not receive an inheritance from you. If you have a child or grandchild who has taken advantage of your kindness and
The final reason people should create trusts is if they ARE millionaires and have a taxable
Stacey Lott Attorney at Law practices in the areas of estate planning and elder law and is located at 130 E. Columbia Avenue in Battle Creek. For more information please call (269) 963-8222 or visit Staceylottlaw.com.
Senior Times - August 2020 generosity during your lifetime, and you want to
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       Helping Seniors Stay
           Informed
                                                NUMBER OF UNITS INDEPENDENT LIVING ASSISTED LIVING SKILLED NURSING ALZHEIMER / DEMENTIA RESPITE CARE
ADULT DAY CARE PETS
RESIDENT PARKING TRANSPORTATION PRIVATE PAY NURSE ON DUTY REHAB
LONG TERM STAY SHORT TERM STAY MEDICATION DELIVERY LAUNDRY HOUSEKEEPING ACTIVITIES
100% MEALS
24 HOUR STAFFING LICENSED FACILITY SPECIFIC DIET PLANS
SENIOR HOUSING
GUIDE
                             LEGACY AT THE OAKS
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•• •••••••••••••• • •••     ••••••••••••• • •••       •••••••••••••••
• •       •••• ••✚•••••• •             •   •••• ••✚••• •
20 706 North Avenue, Battle Creek, MI 49017 Jamie Pancost, (269) 964-4655
30
72
114
55
104
50
100
77
30
36
40
68
48
22
161
45
69
40
                           MAPLE GROVE APARTMENTS
21 1041 Maple St, Albion, MI 49224 Balinda Cavazos, (517) 629-2026
                          MAPLE LAWN MEDICAL CARE FACILITY
22 50 Sanderson Lane, Coldwater, MI 49036 Sue Failing, (517) 279-9587
                        MAPLEWOOD OF MARSHALL
23 200 Westbrook Court, Marshall, MI 49068 Karin Gallagher, (269) 781-4997
                       MEDILODGE OF MARSHALL
24 879 E. Michigan Avenue, Marshall, MI 49068 (269) 781-4251
                       NORTHPOINTE WOODS ASSISTED LIVING
25 700 North Avenue, Battle Creek, MI 49017 Michele Lennon, (269) 964-7625
                   NORTHPOINTE WOODS INDEPENDENT LIVING
26 700 North Avenue, Battle Creek, MI 49017 Michele Lennon, (269) 964-7625
                      OAKS AT NORTHPOINTE WOODS
••         •• •••••••••••• • •       ••• •••••••••••
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27 706 North Avenue, Battle Creek, MI 49017 Jamie Pancost, (269) 964-4655
                       PENNFIELD PREMIER LIVING
28 632 North Avenue, Battle Creek, MI 49017 Renee Kelly, (269) 964-8292
                           PENNOCK VILLAGE
29 1009 W. Green Street, Hasting, MI 49058 Sarah Staple, (269) 945-5871
                          REFLECTIONS MEMORY CARE
30 14316 Helmer Road South, Battle Creek, MI 49015 Marketing Director, (269) 969-2500
                          SPRING ARBOR ASSISTED LIVING & WILLOWS CENTER
31 3700 S. Dearing Road, Spring Arbor, MI 49283 Adryan Porter (517) 750-2700
                          SUMMIT PARK ASSISTED LIVING CENTER
32 12100 Park Road, Jackson, MI 49203 Judy Reba (517) 782-8888
                          SUMMIT PARK ESTATES
33 12100 Park Road, Jackson, MI 49203 Judy Reba, (517) 782-8888
                          THORNAPPLE MANOR
34 2700 Nashville Rd., Hastings, MI 49058 Lyn Briel, (269) 945-2407
                          VILLAGE OF MILL CREEK
35 300 Carl Ave, Battle Creek, MI 49037 Jennifer Bouchard, (269) 962-0605
                          WESTBROOK PLACE APARTMENTS
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36 183 West Street, Battle Creek, MI 49037 Whitney Wardell, (269) 753-0062
                          WOODLAWN MEADOWS RETIREMENT VILLAGE
37 1821 N East Street, Hastings, MI 49058 Lauren Bauer, (269) 948-4921
= CITY ✚ = MED MANAGEMENT  = EMERGENCY CALL     Like to be added? Email Christyn McCleary at cmccleary@scenepub.com.






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