Thomas H. Sullivan
Attorney at Law
Murphy’s Law and Estate Planning
Posted on: November 17th, 2018
As the old adage goes “anything that can go wrong, will go wrong.” Referred to as Murphy’s law, this well-known saying has no mercy. Sadly, estate planning is no exception to its wrath. There is hope! Below are five-estate planning mistakes and how to fix them:...
5 Reasons to Protect Your Retirement Accounts Now
Posted on: November 6th, 2018
During your lifetime, your retirement account has good asset protection, but as soon as you pass that account to a loved one, that protection evaporates. This means one lawsuit and POOF! Your life long, hard earned savings could be gone. Your heirs could be left penniless....
Estate Planning Considerations for Benefits Open Enrollment
Posted on: October 16th, 2018
The fall, generally late-October or early-November, is the time when employers send out summaries of employee benefits offered by the company and give employees the option to enroll in these benefits. These can generally include retirement plan options, health care, dental, vision, short and/or long-term disability, and life insurance coverage. Your employer may pay 100 percent of the premiums, split the costs with you, or you may have to pay all of the premiums yourself. Below are several considerations you should keep in mind once open enrollment begins....
Trusts - The Swiss Army Knife of Estate Planning
Posted on: October 9th, 2018
To the general public, a trust may seem like an advanced tool only for the wealthiest among us. But, the reality is that trusts are a foundational estate planning tool with a solid history for being highly effective in ensuring a person’s wishes are carried out. The process begins with the maker of a trust – commonly referred to as the trust maker, grantor, settlor, or trustor – transferring his or her ownership of certain assets to the trust. A trustee is then appointed to manage these assets for the beneficiary (or beneficiaries) of the trust. In a “standard” revocable living trust, you are the trust maker, the trustee, and the beneficiary while you are alive. Then your designated successor trustee and beneficiaries take over upon your passing....
Do your parents have an estate plan?
Posted on: September 19th, 2018
If you find yourself in the “sandwich generation” (someone who is caring for both your children as well as your parents simultaneously), you need to know whether or not your parents have put together an estate plan. While it is still your parent’s choice to make estate planning decisions, having a plan -- no matter how late in life it is created -- is an absolute must....
Your Fall Legal Affairs Checklist
Posted on: September 12th, 2018
With the fall season approaching, it’s an excellent time to review your affairs. Below is a checklist to ensure your planning meets your needs and is up-to-date:...