Thomas H. Sullivan
Attorney at Law
Latest Blog Posts
Can an Estate Plan Include a Right of First Refusal on Certain Property?
Posted on: October 29th, 2020
Estate planning attorneys are occasionally asked by clients whether an estate plan can include a right of first refusal (ROFR) (sometimes called a first right of refusal) on certain items or parcels of property. The following example helps to illustrate the way this legal tool is used and why it might be useful in your own situation....
What to Do When a Child Dies
Posted on: October 24th, 2020
The death of a minor child is one of the greatest shocks that life can deliver. No one can ever prepare for the cascade of challenges that will come with such an event. Not only are there legal and financial challenges that you must deal with, but all of these challenges come at a time of deep emotional crisis. Nevertheless, help is out there, and the resources available can go a long way to help ease the burdens that you and your loved ones will face during this terrible time....
How to Avoid Estate Planning Scams
Posted on: October 19th, 2020
Imagine spending thousands of dollars on an estate plan to protect loved ones, only to find that no true protection exists. Unfortunately, this scenario happens on a regular basis to individuals who are victims of estate planning schemes. According to a report conducted by the U.S. Consumer Financial Protection Bureau of people ages 50 and over, victims of financial fraud lose $34,200 on average to unscrupulous scammers....
All in the Family
Posted on: October 13th, 2020
The notion of fairness often pervades family dynamics and may continue even beyond death when decisions about dividing accounts and property arise. The law has attempted to address different notions of fairness with a variety of distribution strategies. Per stirpes, by representation, and per capita are key terms in wills and trust agreements that specify the way money and property are to be equitably divided. As you explore these distribution methods, observe how they achieve fairness in different ways and with different results....
Estate Planning Concerns for Athletes
Posted on: October 7th, 2020
In sports, success frequently brings significant monetary compensation. While this is a dream come true for most individuals, it is important to take the right steps to safeguard this hard-earned money. Most people assume that the biggest challenge is spending beyond one’s means. While this can cause many problems, it is not the only issue that athletes need to be aware of and plan for....
What Happens If My Beneficiary Dies Before Me?
Posted on: September 30th, 2020
When planning for death, most people assume they will die before their beneficiaries (e.g., their spouse, children, and grandchildren). While these assumptions are often well-founded, they do not always come to pass. Sometimes a beneficiary of an estate or trust dies before the person leaving the inheritance. If this has happened to you, you may be wondering what is next. How does this event impact your original plans? The truth is, it depends on a number of factors. Lawyers call this scenario having a predeceased beneficiary. ...