Thomas H. Sullivan
Attorney at Law
Why Your Estate Planner Needs to Know If You’ve Lent Money to Family
Posted on: January 25th, 2018
Many children and grandchildren are skipping the traditional bank and obtaining loans from parents or grandparents. Unfortunately, we have all heard stories of families torn apart because of disagreements over money. So, what can you do to make sure your intra-family loans help — rather than hurt — your family?...
Gift Giving the Tax-Free Way
Posted on: December 6th, 2017
Although it’s the season of giving, no one wants to share with the IRS. Luckily, the law provides you many opportunities to give gifts to family, friends, and charities tax-free. Some are straightforward, while others may require the help of a professional....
How to Share Family History and Heirlooms with Your Estate Plan
Posted on: November 25th, 2017
The best time to share your family history with loved ones is right now, before the memories are forgotten. The coming holiday season is a great opportunity to reminisce because you’ll probably have your loved ones nearby....
Can You Bequeath Your Frequent Flyer Miles?
Posted on: November 7th, 2017
If you’re a frequent airline traveler, one of your estate planning concerns may be what will happen to your accumulated miles once you’re gone. They could be worth thousands of dollars, so you probably don’t want them to just disappear, but some airline policies say that’s exactly what will happen....
Providing for Your Minor Children after You Die
Posted on: October 18th, 2017
Deciding on a guardian for your minor children may very well be the most vexing decision you’ll make regarding your estate planning. Not only must you trust the appointed guardian to raise your children as you’d want them raised, but you also need that person to be financially responsible with your children’s inheritance. For example, if you have an IRA or an annuity that you wish to pass to your minor children, how can you ensure those funds will be used properly—especially if the person you trust most to raise your kids isn’t necessarily the best with finances?...
New Baby? Time to Create Your Estate Plan
Posted on: September 20th, 2017
Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together, it is important to understand that if you just had a baby - now is the time to meet with an estate planning attorney to implement a plan....