Thomas H. Sullivan
Attorney at Law
Latest Blog Posts
What to do with the family heirlooms and keepsakes
Posted on: April 17th, 2019
When most people think of estate planning, they think of assets that include money, real estate, and personal property. But, included in someone’s estate could be invaluable personal property, such as family heirlooms or keepsakes. This type of property should not be overlooked in your estate plan just because it may not have a high dollar value because it still has sentimental value that cannot be quantified. Part of a thorough estate plan is determining how you want these priceless family heirlooms and keepsakes distributed once you are gone. ...
Just Like You Need a Medical Checkup, Your Estate Plan Needs a Checkup!
Posted on: April 12th, 2019
Whether or not you currently have estate planning documents, one important item to add to your calendar is getting an estate plan checkup....
When is probate necessary?
Posted on: April 7th, 2019
Whether or not you have an estate plan in place, you have likely heard the term "probate." Probate is the legal process by which a deceased individual's assets are distributed under court supervision. This process is necessary to distribute assets that are solely in the name of the deceased person. Probate is governed by state law....
Changes to ABLE Accounts You Should Know
Posted on: April 3rd, 2019
If you have a loved one with disabilities, you may be familiar with “ABLE” accounts, authorized by Congress in 2014 under the Achieving a Better Life Experience Act. ABLE accounts are tax-advantaged savings accounts–similar to 529 education savings plans–whose funds can be used to pay for certain qualifying expenses of disabled individuals. As a result of the Tax Cuts and Jobs Act (TCJA), there are several changes that affect ABLE accounts....
Four Easy to Avoid Mistakes People Make at Tax Time
Posted on: March 28th, 2019
It’s that time of year again: tax season. No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last…possible…moment. As Tax Day approaches, millions of Americans are likely scrambling to track down all of their important documents to meet the April 15 deadline. But as with anything in life, the more you rush, the more likely you are to make mistakes....
An Easy Three-Step Review for Your Estate Plan Helpers
Posted on: March 22nd, 2019
While putting together an estate plan is important for you and your loved ones, it is equally important for you to understand the role of the trusted individuals who will be carrying out your wishes when you are unable to. When it comes to estate planning, these "helpers" are key. They generally include a trustee, guardian, executor, agent under a power of attorney, and healthcare proxy, among others....