Thomas H. Sullivan

Attorney at Law

Trusts

Will vs. Trust: Which is Right for You?

Posted on: July 31st, 2019
When you sit down to create your estate plan, there are likely dozens of questions running through your mind. Who should get possession of your home? Who should run the family business? Will you create a college fund for your grandkids? What charity should you donate to? The options can be dizzying....

Lifetime QTIP Trusts

Posted on: June 28th, 2019
Estate planning for married couples can be tricky when one spouse is significantly wealthier than the other, and each spouse wants different beneficiaries to ultimately inherit their estate. One solution to this problem is the Lifetime QTIP Trust. ...

Does Your Estate Plan Protect Your Adult Beneficiaries?

Posted on: June 17th, 2019
If you think you only need to create discretionary lifetime trusts for young, troubled, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike....

Discretionary Trusts -- How to Protect Your Beneficiaries from Bad Decisions and Outside Influences

Posted on: June 10th, 2019
Although leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution, this scheme will make their inheritance easy prey for creditors, predators, and divorcing spouses. Instead, consider using discretionary trusts for the benefit of each of your beneficiaries....

4 Tips for Avoiding a Will or Trust Contest

Posted on: June 3rd, 2019
A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest. ...

Loan, Gift, or Advancement: Why the Classification Matters

Posted on: May 18th, 2019
While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning. Accordingly, the intent behind the transfer of the money is key when determining if it will be considered a loan, gift, or advancement....
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