Dear Clients and Friends,
Being that I am not a client of Davidow, would I be able to ask a question?
I begin each LISTEN TO LAWRENCE LETTER with “Dear Clients and Friends.” If you are not a client of mine, then you must be a “friend.” Please feel free to send me your questions, and if I think the answer will benefit my readers, then I will answer it here. If I don’t think that it will benefit anyone else and it is simply personal to you, then I will suggest that you call me for a consultation and become a client. 😊
In your e-mails and your book, Planning to Keep It, you use the term “child with disabilities” in many sections where you discuss leaving homes and assets to heirs. Does this term apply to any disabled offspring regardless of age? An adult son of age 50 for example? Thanks for the good work with your informative and enjoyable e-mails!
When I say “child with disabilities,” this will include a child of any age, including your 50-year-old son. In cases where I want to limit my comments to people under the age of 21 or 18, I will most often refer to them as a “minor” or “minor child” or “minor child with disabilities.”
As an example, the Medicaid transfer penalties have an exception where no penalty will apply if you transfer some or all of your assets, even at the last minute, to a child with disabilities. This “child” means a child of any age, including a 50-year-old son.
I hope this helps! Please forward this information to your friends and relatives to share these informative answers to some very commonly asked questions.
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As always, please send me your questions. If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.
Let’s stay connected.
Until next time…
peace, health and happiness,
Lawrence Eric Davidow