Thomas H. Sullivan
Attorney at Law
The ABCs of RLTs
Posted on: September 17th, 2019
You may have heard of a revocable living trust (RLT), which is a commonly used estate planning solution. But what exactly are they, who is affected by them, how can they be changed, and what do they accomplish?...
What Could the SECURE Act Mean For You?
Posted on: August 25th, 2019
If you have kept up with current events, you know that there is real potential for change to your retirement accounts. The Senate is working to pass new legislation that would help seniors prepare for their golden years more efficiently. Better known as the SECURE Act, Setting Every Community Up for Retirement Enhancement seeks to make Individual Retirement Accounts (IRAs) more appealing for Americans of all backgrounds. ...
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....