Frequently Asked Questions for Our Bankruptcy Lawyer in Battle Creek, MI
You are reading this because you need the help of a bankruptcy lawyer in Battle Creek, MI. The law firm of Michael B. Walling, PLC offers representation for clients that need a fresh financial start. We can also provide you with an elder law attorney to ensure your medical care and your asset distribution after your death meets your wishes. Contact us for a confidential consultation.
Managing your assets or getting your estate in order can be challenging. Therefore, it makes sense to be familiar with the processes before making any decision. Our law firm is committed to helping clients get the information they need to make sensible decisions. On this page, you will find answers to frequently asked questions related to protecting assets, estate planning services, and bankruptcy.
As you can imagine, practice areas such as estate law, elder law, and bankruptcy can be complicated and full of nuance. No two legal situations will ever have an identical set of circumstances or a standard way of approaching them. In these instances, it is crucial to work with an estate planning or bankruptcy attorney who has the skill, experience, and knowledge in the legal arena you are considering. If you have any specific questions about your legal situation, it is highly recommended that you contact a legal professional for their insights.
This page contains answers to question that our law firm frequently receives. For your convenience, we also have dedicated FAQ pages for specific practice areas. You navigate to a specific practice area’s FAQ by using the buttons below:
If you have any questions that are not addressed here, we highly recommend that you contact our estate planning and bankruptcy attorney for a consultation. The law firm of Michael B. Walling, PLC, offers personalized assistance that allows you to pursue the best possible outcome.
Protecting Assets-Nursing Home
Q: Should I sell my assets to help pay for nursing home costs?
A: No. We can help you cover the cost of nursing home care by filing for Medicaid. If you qualify, this government program will provide the funds to pay for nursing home fees.
Q: Will I be penalized if I give away assets to qualify for Medicaid?
A: You may be subject to a penalty if you transfer assets to family members within five years of applying for Medicaid.
Wills, Trusts, Powers of Attorney
Q: What's the difference between a will and a trust?
A: A will is a legal document that explains how you want your assets distributed to your family and others after your death. A trust also gives you power over who receives your assets without the need for probate. Also, estate taxes are less for a trust than for a will.
Q: How can I designate someone to handle my personal and business affairs if I cannot?
A: A durable power of attorney is a document that allows you to appoint someone to make business, legal, and medical decisions for you if you become disabled.
Q: Will creditors continue calling me if I file for bankruptcy?
A: No. Once we file your case, the Court issues an Order that halts all collection activity right away (lawsuits, phone calls, and wage garnishments).