On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Dec 11, 2019 | Estate Planning
The Internal Revenue Service (IRS) requires gift-givers to pay taxes on gifts that exceed a certain amount. At this time, the tax does not kick in until the person making the gifts gives away $11.4 million or more. However, those with significant assets need to keep...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Nov 27, 2019 | Estate Planning
The world changes once you become a parent. Instead of taking steps only to protect your own future and the future of your spouse, you now have to take steps to protect your children. With a few steps you can put a plan in place that will better ensure a good...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Nov 14, 2019 | Estate Planning
There are certain life events that should trigger a review of one’s estate plan. A death in the family, the birth of a new family member, a divorce or a marriage are common examples. Another example: tax changes.The tax code has gone through some major changes...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Nov 1, 2019 | Estate Planning
A recent publication in The Atlantic estimates over 1.4 million American households hold over $5 million in assets. With such large wealth in the country, many are starting to ask whether there is such a thing as “too much” inheritance. For many wealthy...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Oct 8, 2019 | Estate Planning
Putting together an estate plan is likely on your “to do” list. For those who already have a plan, they may have an annual reminder to review the plan and make changes as needed. Whether you are one of the millions in the former situation or part of the...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Sep 24, 2019 | Estate Planning
Fair does not always mean equal. Parents learn this lesson while their children are young. It quickly becomes apparent that each child has their own personality and may have different needs. This can translate to different forms of parenting styles for each child.As...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Sep 12, 2019 | Estate Planning
Putting together an estate plan is a unique process for everyone. Although legal professionals will caution against the use of do-it-yourself (DIY) estate planning tools, nothing sends the message home better than real life examples of the errors that can occur when...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Aug 27, 2019 | Estate Planning
How we handle our money is changing. Forbes recently reported a “resurgence in value” of Bitcoin in 2019. Bitcoin is just one form of digital currency. The piece also reports cryptocurrencies as a whole are valued at over $335 billion as of June 2019....
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Jul 17, 2019 | Estate Planning
The Internal Revenue Service (IRS) is considering a new rule that will impact retirement plans. The rule specifically addresses IRAs. What piece of legislation? The SECURE Act is gaining momentum within Congress. The proposal passed the House of Representatives in May...
On behalf of Connors & Sullivan, Attorneys at Law, PLLC | Jul 11, 2019 | Estate Planning
Your will protects your personal wishes and your family’s legacy. That will you made five or 10 years ago needs some changes. Like a house, your will needs minor updates and changes as time progresses. At home, the paint on your wall may have started to chip or...
