Thomas H. Sullivan
Attorney at Law
Murphy’s Law and Estate Planning
Posted on: November 17th, 2018
As the old adage goes “anything that can go wrong, will go wrong.” Referred to as Murphy’s law, this well-known saying has no mercy. Sadly, estate planning is no exception to its wrath. There is hope! Below are five-estate planning mistakes and how to fix them:...
Caution: Creditors Now Have Easy Access to Inherited IRAs
Posted on: November 16th, 2018
Do you have IRAs or other retirement accounts that you plan to leave to your loved ones? If so, proceed with caution. As opposed to when you own the retirement accounts, inherited retirement accounts do not have asset protection, meaning they can be seized by creditors....
Giving Thanks With Your Estate Plan
Posted on: November 11th, 2018
Estate planning covers more than just financial matters. Indeed, many use their estate plan to pass along their values as well as their wealth. One way to do this is to give thanks with your estate plan, by designating charitable giving or specific gifts that will help ensure your legacy...
What do the 2018 Midterm Elections Mean For Your Estate Plan?
Posted on: November 7th, 2018
Estate planning is meant to be an ongoing process, not a one-time transaction. In the same way that you never stop budgeting, saving, and investing as you go through life, it is also sensible to see estate planning as a lifelong project. Let’s look at some of the considerations you should make now that the 2018 midterm elections are in the history books....
5 Reasons to Protect Your Retirement Accounts Now
Posted on: November 6th, 2018
During your lifetime, your retirement account has good asset protection, but as soon as you pass that account to a loved one, that protection evaporates. This means one lawsuit and POOF! Your life long, hard earned savings could be gone. Your heirs could be left penniless....
Your 2018 Taxes – Get Started Now
Posted on: October 23rd, 2018
While the end of the year is not quite here yet (but rapidly approaching), now is an opportune time to take a moment and start your year-end tax planning for 2018. This is particularly necessary this tax year because of the changes to the tax law that became effective in 2018. As a result of the significant changes in the law, your taxes may look different this year, so you should allow for some extra time in the preparation....