Thomas H. Sullivan
Attorney at Law
How Refinancing a Property Can Affect Your Estate Plan
Posted on: November 18th, 2020
The mortgage business is booming in many parts of the country. Historically low interest rates have created an almost frenzied environment with homeowners scrambling to refinance their home loans at these low interest rates. Even a few tenths of a percentage point of interest, over thirty years, can make a massive difference in the amount of interest that is ultimately paid on a loan. For many, it makes perfect sense to take advantage of these interest rates. Besides the associated transaction fees of refinancing, there is frequently little to no downside to refinancing in times like these....
Estate Planning Considerations for Incarcerated Individuals
Posted on: November 12th, 2020
If you are preparing for or are currently incarcerated, the future may be uncertain right now. Proper estate planning may ease some of the worries you are facing. Regardless of how long your incarceration is for, we are here to help you address your concerns and develop a plan that will protect you and your family for many years to come....
Choosing a Corporate Trustee
Posted on: November 5th, 2020
Making plans for your money and property after you pass away is not the most exciting thing to do. It involves thinking about situations that may cause feelings of fear and uncertainty. Nevertheless, it is essential to face those decisions head-on. You must determine what people, things, and values matter most to you. A critical decision in this process is deciding whom to appoint as trustee—the person or entity charged with managing, investing, and handing out the money and property owned by the trust. Most people typically consider trusted friends and family members for this important role. However, that is not always the best choice....
Estate Planning After Personal Injury Settlements
Posted on: September 23rd, 2020
The U.S. legal system is designed so that those who suffer injury through the avoidable fault of others can seek compensation for those injuries. Sometimes injuries are so severe that the injured individual receives a significant sum of cash through a settlement or court judgement. Such a sudden and large infusion of cash can be overwhelming to an individual and the individual’s family, and without sound legal planning, can be lost or mishandled....
Conservation Easements: Preserving a Heritage With Tax Benefits
Posted on: September 8th, 2020
You may have heard about conservation easements in the news over the past few years and the tax benefits available through the use of them. But what are they and how can they benefit you? ...
Why Your Heirs or Beneficiaries May Receive a Smaller Inheritance Than You Thought
Posted on: August 17th, 2020
Often when a person dies and leaves money or property to heirs or beneficiaries, the first thing the heirs or beneficiaries want to know is the overall value of the estate. If the executor or the trustee (the person or entity in charge of handling the final affairs of a deceased person) shares that information, as is typically required, it can be tempting for heirs or beneficiaries to immediately do some quick mental math to estimate how much they will receive. With that number in mind, they may begin mentally spending the anticipated inheritance on things that have always been a little out of reach....