Thomas H. Sullivan
Attorney at Law
Estate Planning: Why Me, Why Now, and Is a Will Enough?
Posted on: January 11th, 2022
You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not exactly sure why. You may feel that you are not wealthy enough or old enough to bother or care. Or you may already have a Will and feel that you are all set on that front. Whatever your current position, consider these common misconceptions about estate planning:...
Five Questions to Ask Yourself about Your Social Media Presence
Posted on: December 28th, 2021
Social media is about putting yourself out there to connect with people, sometimes all over the world. If you are a social media influencer, not only are you being social, you are also gaining a following that may be bringing in cash. If you are using social media to earn income, here are five questions you should ask yourself about your social media presence to make sure you are fully protected....
Untangling Tangled Titles: Homeownership, Property Deeds, and Estate Planning
Posted on: December 21st, 2021
Do you really own the home you live in? If you are currently living in a property that you inherited but the deed has not been transferred into your name, you may be surprised to learn that, under the law, you are technically not the owner. This legal situation is known as “tangled title.” A tangled title negatively impacts a property’s current occupant in a number of ways. It can also harm generational wealth and even contribute to fraud....
Reasons a Trust Might Terminate
Posted on: December 13th, 2021
Nothing lasts forever. While trusts can stretch across generations and keep valuable money and property within a family, no trust has unlimited funds or an interminable time horizon. Every trust, at some point, will end. The reasons why a trust might terminate can vary, but in general, termination occurs because the trust has accomplished its purpose, is no longer economically feasible, has distributed all of its property, is revoked, or is dissolved by the court because of a dispute or an illegality....
When Should You Consider a Qualified Personal Residence Trust
Posted on: December 8th, 2021
Americans have enjoyed historically high estate tax exemption rates for most of the last twenty years. Such high exemption amounts have kept many of them from needing to seek out more advanced estate planning strategies to avoid estate taxes, which have been as high as 60 percent during those same years. However, it is uncertain what the estate tax exemption amounts and rates will be in the future. ...
Protecting the New Athletic Superstars
Posted on: November 30th, 2021
A change to the long-standing National Collegiate Athletic Association (NCAA) policy that prohibited athletes from making money has abruptly—and dramatically—altered the landscape of NIL in collegiate athletics. The NCAA has long been criticized for generating billions in annual revenue from athletic programs while barring athletes from sharing the profits. Student athletes have not wasted time profiting under the new rules, with many already cashing in....