Thomas H. Sullivan
Attorney at Law
How to Protect Your Child’s Inheritance from His or Her Untrustworthy Spouse
Posted on: June 6th, 2017
Parents who develop an estate plan often do so to provide for their heirs financially. Many want to make sure hard-earned assets, family heirlooms, or closely held businesses stay within the family. Indeed, a common question is what cost effective options are available to protect one’s children’s inheritance from a spouse in the event of untrustworthiness or divorce....
3 Ways Your Trust Can Help a Loved One With Mental Illness
Posted on: May 23rd, 2017
When a loved one suffers from a mental illness, one small comfort can be knowing that your trust can take care of them through thick and thin. There are some ways this can happen, ranging from the funding of various types of treatment to providing structure and support during his or her times of greatest need....
Tools You Can Use to Leave Words of Wisdom to the Next Generation
Posted on: May 15th, 2017
You come into the world a blank slate, and as you grow, you gain wisdom. You've planned your estate to leave physical assets to beneficiaries, so now think about leaving them something that’s just as important but less tangible: the hard-won wisdom you’ve accumulated over your life. Let your family and friends learn from your mistakes, and profit from your successes. ...
The Difference between Lifetime and Deathtime Planning
Posted on: May 9th, 2017
According to a March 2017 survey by Caring.com, six out of ten Americans have no will or any other kind of estate planning. Many said they’d get around to it, eventually. When they’re old. (The survey did find that the elderly are much more likely to have some plan in place.) It’s all too clear that most of us think “estate planning” is a euphemism for “deathtime” planning. Indeed, in the Caring.com survey, one-third said that they didn’t need an estate plan because they didn’t have any assets to give someone when they’d died....
How Your Trust Can Help a Loved One Who Struggles with Addiction
Posted on: May 2nd, 2017
Because of its prevalence, navigating a loved one’s addiction is actually a relatively common topic in everyday life. But you should also consider it when working on your estate planning. Whether the addiction is alcoholism, drug abuse, or behavioral like gambling, we all want our loved ones to be safe and experience a successful recovery. A properly created estate plan can help....
How a Community Property Trust Could Save You From Heavy Taxation Down the Road
Posted on: April 28th, 2017
When it comes to your family’s legacy, every dollar you can save from tax collection counts. One way to keep your assets out of the hands of the IRS is the formation of community property trusts. ...