Thomas H. Sullivan

Attorney at Law

Taxes

Do I Need a Will or Trust?

Posted on: February 7th, 2019
Yes! Everyone needs a will, trust, or both to ensure your legacy is passed on in the way you intend, to provide for children, spouse, and family members, and in the case of trusts, to avoid probate. Wills and trusts are not just for the wealthy: A well-drafted plan ensures that what you do have is not wasted in probate court, establishes your intentions for sentimental items and family heirlooms, and can even state your wishes for the care of pets....

11 Common Estate Planning Mistakes

Posted on: February 7th, 2019
Review this 11-point checklist to avoid the most common mistakes that could be lurking in your estate plan....

How to Manage Your Basis "Step Up"

Posted on: January 13th, 2019
​If you or someone you know has received an inheritance, it is important for you to understand how to manage your basis “step up.” A “step up” in basis is the adjustment of the value of an appreciated asset - for tax purposes - upon inheritance....

Did you or a loved one make any of these five critical estate planning mistakes?

Posted on: January 13th, 2019
Sadly, most Americans are indifferent to estate planning - at best - or completely ignore the issue - at worst. When it comes to estate planning, however, there are just some mistakes that you cannot afford to make. Below are five of the most critical estate planning mistakes....

Consider "Micro" Estate Planning in the New Year

Posted on: December 18th, 2018
You are probably familiar with the idea and benefits of traditional estate planning: eliminating probate fees, lowering tax liabilities, and providing financial peace of mind and security for your loved ones. If you do not currently have an estate plan, you should consider getting one as soon as possible....

What is an Inheritor’s Trust?

Posted on: December 11th, 2018
When it comes to estate planning there are several types of tools you can use, depending on your circumstances. One such estate planning tool is the trust. There are numerous types of trusts aimed at fulfilling different estate planning purposes. If you are anticipating an inheritance, there is a special type of trust designed to help protect it: an inheritor’s trust....
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