Dear Clients and Friends: Family dynamics are always interesting, like in the following case: READER QUESTION: Hello Mr.Davidow, I am a financial and medical POA for my mother. I am one of 5 and my mother is widowed for a year.  I was also POA for my dad that passed a year …

Dear Clients and Friends: Here is a common question from one of my longtime snowbird clients: CLIENT QUESTION: I hope this email finds you well. My family has been clients of yours and I always read your emails. I recently moved to SC but maintain a home on LI, which I …

Dear Clients and Friends: I recently posted an article (LISTEN TO LAWRENCE LETTER, April 21, 2022 • Volume 3 Issue 32) about the shortage of home care workers and how they are underpaid. In an effort to foster a continued dialogue, I am now posting a comment from one of my …

Dear Clients and Friends: I am a long way from being a snowbird (I do like that dry hot weather in Arizona though), but many of my clients can sympathize with the following practical problem: CLIENT QUESTION: I am a snowbird that travels to Florida for the winter months. I …

Dear Clients and Friends: From time to time a new law takes effect that should be translated into English and distributed to my clients and friends. That is exactly what I’m doing here so read on for a clear understanding of the new Power of Attorney law and how it …

Dear Clients and Friends: There is nothing constant like change. Here is a quick and easy one… CLIENT QUESTION: Hi Lawrence.  One of your recent letters states that the trustees of an irrevocable Medicaid trust may be added or perhaps even deleted quickly. My question is this: do all the current …

Dear Clients and Friends: I came across this article recently and wanted to share it with you. I am not sure how to solve the problems it raises.  I do know that most people want to stay in their homes as they age but face shortages of home care workers. Something has to …

Dear Clients and Friends: The death of a spouse brings up many questions, like the one that follows: CLIENT QUESTION: Dear Mr. Davidow, I have a Medicaid trust. My husband recently passed away.  Is it time to update the trust? Thanks for all your helpful emails. MY RESPONSE: First, my condolences …

Dear Clients and Friends: It is hard raising parents, as reflected in the following question: CLIENT QUESTION: About three years ago you set up an irrevocable trust for my father; I am the trustee. I am getting concerned about my father’s cognitive ability, and wonder whether the trust protects the assets contained …

Dear Clients and Friends, Having a child with developmental disabilities presents challenges that don’t stop when they become adults, as brought out by the following client question: CLIENT QUESTION: I have a question regarding guardianship. My husband and I have a 31-year-old son who has Down’s Syndrome and lives with …

Dear Clients and Friends, The topic of taxes and trusts is confusing, triggering the following questions: CLIENT QUESTIONS: Can you please explain inheritance tax, estate tax, and why trusts are important for tax reasons? I understand there is a Medicaid look back but people also say there is a tax reason …

Dear Clients and Friends, When was the last time you updated your estate planning documents? Read on… CLIENT QUESTION: Dear Mr. Davidow, My wife and I have wills that are about 10 years old. Do we need new wills or can they be updated? Other than a few assets everything is …

Dear Clients and Friends: Must a trust always file an income tax return? Read on… CLIENT QUESTION: Hi. Just curious, I have an irrevocable Medicaid trust with some investments but the taxes are paid by me not the trust. Still, my accountant insists the trust has to file a tax return. …

 Dear Clients and Friends, A worthy VENT about Long Term Care Insurance from one of my readers: CLIENT’S STATEMENT: Your newsletter regarding Long Term Care insurance premiums is relevant to the situation my husband and I have. We bought good LTC policies, of a type called Partnership with New York …

Dear Clients and Friends: I often pass along articles that are created by one of the members of the SPECIAL NEEDS ALLIANCE (SNA). In response to a recent post, I received the following comment: CLIENT COMMENT: I never heard of the Special Needs Alliance until the above-named newsletter. May I respectfully suggest …

Dear Clients and Friends: Sometimes, changes need to be made to your trust, like in this question from one of my clients: CLIENT QUESTION: Due to unforeseen circumstances, is it possible to add trustees, change, or remove and replace original trustees in one of your Irrevocable Trusts? The circumstances could be a …

Dear Clients and Friends: Sometimes avoiding probate makes sense, like in the case of this client: CLIENT QUESTION: I am 82. I love your questions & answers. They are so informative. I have had my head in the sand for years now because I have property in 3 states, NY, FL, & CT.  I …

Dear Clients and Friends: Ever wonder what happens to the income generated in your Medicaid Irrevocable trust? This is what the following client is wondering about. CLIENT QUESTION: I have a Medicaid irrevocable trust created by you 4 years ago, funded with certain securities. The trust was issued a trust tax ID …

Dear Clients and Friends: As you know, from time to time I like to share relevant articles from the website of the Special Needs Alliance (SNA) which is an organization I’m proud to be associated with as a member and co-founder. This next article is very informative and many families …

Dear Clients and Friends, The death of a spouse is definitely a time to reassess your estate planning, like in the following situation: CLIENT QUESTION: Thank you again for your informative emails 👍🏻 Question: I have my house in an Irrevocable Trust. My husband passed away recently. I have savings, …