Thomas H. Sullivan
Attorney at Law
Latest Blog Posts
How to Pick a Trustee, Executor, and Agent Under a Power of Attorney
Posted on: February 7th, 2017
While the term fiduciary is a legal term with a long history, it very generally means someone who is legally obligated to act in another person’s best interests. Trustees, executors, and agents are all examples of fiduciaries. When you pick trustees, executors, and agents in your estate plan, you’re picking one or more people to make decisions in your and your beneficiaries’ best interests and in accordance with the instructions you leave. Luckily, understanding the basics of what each of these terms means and what to consider when making your choices can make your estate plan work far better....
Better to Play it Safe: Proactive Estate Planning and Cognitive Impairment
Posted on: January 31st, 2017
Most financially savvy individuals begin planning their estate when they’re in peak mental shape. The idea that this might change at some point in the distant future is an unpleasant one, and they would rather go about their estate planning as if they’ll be as sharp as a tack late into their golden years. Unfortunately, this common approach of ignoring a potential problem and hoping it simply won’t happen can leave a giant hole in your estate plan. Read on to find out that this common hole can be more easily filled than you might think. ...
A Powerful Exercise to Surface the Values You Want to Pass on to the Next Generation
Posted on: January 24th, 2017
Successful estate planning is about far more than simply passing your wealth to the next generation— it’s also about passing on your values. No matter which financial or legal structures you choose to contain and manage your assets, these instruments only preserve your wealth until it reaches the hands of your beneficiaries. What happens then? Your values enabled you to accumulate wealth and persevere in spite of obstacles and long odds. If your children and grandchildren don’t share and cherish those values, they could lose their inheritance as quickly as they received it....
Got Stuff? George Carlin Says You Need An Estate Plan!
Posted on: January 17th, 2017
George Carlin would have been a great pitchman for estate planning. You may remember his stand-up routine on "stuff." We all have stuff, and we're pretty particular about our stuff. We move it around with us, it's hard for some of us to get rid of it, and some of us don't like our stuff mixed up with other people's stuff....
Why Factoring Long-Term Care Into Your Estate Plan Pays Off
Posted on: January 15th, 2017
For most people, thinking about estate planning means focusing on what will happen to their money after they pass away. But that misses one pretty significant consideration: the need to plan for long-term care....
Impacts of the Trump Presidency on Estate Planning: Your Quick Guide
Posted on: January 5th, 2017
It's official — the Electoral College voted on December 19, 2016, essentially completing the 2016 presidential election cycle. With that bit of uncertainty behind us and a fresh year starting out, here's what you need to know about planning your estate under the incoming Trump administration and Republican-controlled Congress....