Thomas H. Sullivan
Attorney at Law
Latest Blog Posts
All in the Family
Posted on: October 13th, 2020
The notion of fairness often pervades family dynamics and may continue even beyond death when decisions about dividing accounts and property arise. The law has attempted to address different notions of fairness with a variety of distribution strategies. Per stirpes, by representation, and per capita are key terms in wills and trust agreements that specify the way money and property are to be equitably divided. As you explore these distribution methods, observe how they achieve fairness in different ways and with different results....
Estate Planning Concerns for Athletes
Posted on: October 7th, 2020
In sports, success frequently brings significant monetary compensation. While this is a dream come true for most individuals, it is important to take the right steps to safeguard this hard-earned money. Most people assume that the biggest challenge is spending beyond one’s means. While this can cause many problems, it is not the only issue that athletes need to be aware of and plan for....
What Happens If My Beneficiary Dies Before Me?
Posted on: September 30th, 2020
When planning for death, most people assume they will die before their beneficiaries (e.g., their spouse, children, and grandchildren). While these assumptions are often well-founded, they do not always come to pass. Sometimes a beneficiary of an estate or trust dies before the person leaving the inheritance. If this has happened to you, you may be wondering what is next. How does this event impact your original plans? The truth is, it depends on a number of factors. Lawyers call this scenario having a predeceased beneficiary. ...
Estate Planning After Personal Injury Settlements
Posted on: September 23rd, 2020
The U.S. legal system is designed so that those who suffer injury through the avoidable fault of others can seek compensation for those injuries. Sometimes injuries are so severe that the injured individual receives a significant sum of cash through a settlement or court judgement. Such a sudden and large infusion of cash can be overwhelming to an individual and the individual’s family, and without sound legal planning, can be lost or mishandled....
Deeper Dive into Advance Healthcare Directives
Posted on: September 16th, 2020
When it comes to your healthcare, especially during these uncertain times, you need to ensure that two estate planning documents in particular are up to date. The first is your healthcare power of attorney. This document allows you to name a person to make medical decisions on your behalf or communicate your wishes in the event you are unable to. The second document your estate plan should include is an advance healthcare directive, sometimes referred to as a living will. ...
Conservation Easements: Preserving a Heritage With Tax Benefits
Posted on: September 8th, 2020
You may have heard about conservation easements in the news over the past few years and the tax benefits available through the use of them. But what are they and how can they benefit you? ...