Thomas H. Sullivan
Attorney at Law
Do You Really Need a Trust?
Posted on: July 26th, 2017
Although many people equate “estate planning” with having a will, there are many advantages to having a trust rather than a will as the centerpiece of your estate plan. While there are other estate planning tools (such as joint tenancy, transfer on death, beneficiary designations, to name a few), only a trust provides comprehensive management of your property in the event you can’t make financial decisions for yourself (commonly called legal incapacity) or after your death....
Do You Really Need a Will?
Posted on: July 19th, 2017
Most Americans do not have a simple will as part of their estate plan. You might believe that a will is only for the rich and famous, and not the average person who has a far smaller net worth. On the other hand, you may think that a will is entirely unnecessary since you have a trust, jointly owned property, or have named beneficiaries on your insurance....
Isn't There Already A Law That Leaves Everything To My Spouse And Kids?
Posted on: July 11th, 2017
Many people think that if they die while they are married, everything they own automatically goes to their spouse or children. They’re actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as “intestate.” In that case, the specifics will vary depending on each state's law, so where you live when you die can significantly change the outcome for your family....
How You Can Benefit from a Late Portability Election
Posted on: June 30th, 2017
Estate Planning That Expresses Who You Are
Posted on: June 26th, 2017
You intend to pass along your wealth through your estate plan, but what about your wisdom? Ensuring you accomplish both calls for a family meeting to have a conversation about your money, your legacy, and your core principles....
Money Isn’t Everything in Estate Planning
Posted on: June 13th, 2017
Money may be the most talked about wealth contained within a person’s estate, but the riches of their experience and wisdom can mean even more to family members down the line. Reinforcement of family traditions can be built into your estate plan alongside your wishes regarding your money, property, and belongings. After all, what really makes a family a family is its values and traditions — not the way its finances read on paper....