Thomas H. Sullivan

Attorney at Law

Taxes

Declare your Independence from Court Interference!

Posted on: July 3rd, 2018
While the rest of the nation celebrates its independence on July 4th, you can rest assured that you too can declare independence for your family -- from court interference. Life can be unpredictable. Whether it is a financial issue, the birth or adoption of a child, sickness or incapacity, it is important to be prepared with proper estate planning. In fact, failure to put together a comprehensive estate plan can leave you and your loved ones at the mercy of the court when it comes to distributing assets or caring for a minor or sick family member....

The Biggest Threats to Successful Estate Planning

Posted on: June 11th, 2018
Poor estate planning is a recipe for disaster. Look no further than Dickens’ Bleak House—or a telenovela—to witness the tragedy and melodrama inadequate estate planning can cause. While having your estate planning documents prepared is the first hurdle to overcoming these types of disasters, there are several threats that lurk around the corner that might derail your wishes....

Protecting Your Children’s Inheritance When You are Divorced

Posted on: May 1st, 2018
Consider this story. Beth’s divorce from her husband was recently finalized. Her most valuable assets are her retirement plan at work and her life insurance policy. She updated the beneficiary designations on both to be her two minor children. She did not want her ex-husband to receive the money....

How many plans do I need?

Posted on: May 1st, 2018
Most folks have at least heard of an estate plan. But fewer realize that a simple will is not enough to prepare for your future. In fact, a combination of plans - financial, tax, legacy, and estate - are vital to your financial well-being and protection of your assets and family. All of these plans are closely linked, affecting one another but also serving different purposes....

Roth IRA Conversions After Tax Reform

Posted on: April 10th, 2018
Twenty years ago, the Roth IRA first became available to investors as a financial tool for their estate planning needs. These accounts have maintained their popularity because unlike their traditional IRA counterpart, a Roth IRA provides account owners tax-free income during retirement....

Basics of Beneficiary Forms and Estate Planning

Posted on: April 3rd, 2018
In the event of your untimely death, the manner in which your beneficiaries -- or those people who receive your assets from your estate -- are determined is highly dependent on how your property is titled....
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