Estate Planning – Irvine Business Attorney Thomas L. Gourde, ESQ.

California Estate Planning Attorney

gourdelaw — Mon, 03 Jun 2013 15:05:33 +0000

An experienced California estate planning attorney will get your estate planning done properly. Estate planning will leave you with peace of mind that your assets be distributed exactly as you desire. No one wants to think about death, and that is a reason that so many people put off estate planning, sometimes until it is too late. The best estate plans settle an estate effortlessly, avoid probate, and distribute portions of your estate to your desired loved ones. Attorney Thomas L. Gourde is an experienced estate planner with the focus of helping you to create a comprehensive estate plan and accomplish your goals to preserve your legacy for your heirs.

Not only will estate planning ease the transition of property ownership after death, but estate planning is also beneficial during your living years. Estate planning can help grow and preserve assets during life. Having a plan for property will help to ensure that the property is distributed as desired after passing. Finally, the value of the estate will be maximized by reducing taxes and other expenses.

The process of estate planning involves:

Wills- in which to name an executor, and provide for the distribution of assets at death, as well as appoint a guardian for minor children.

Trusts – in many cases these will help to avoid probate by basically passing on control of the property to an appointed heir.

Powers of attorney – the authorization to act on someone else’s behalf.

To optimize the value of your assets for your heirs, contact Thomas L. Gourde today to create your estate plan. A properly executed estate plan will protect and preserve your assets and property, and when the time comes, ease the legal ownership to the next generation.
If you have any questions about estate planning, please contact Mr. Gourde at (949) 825-6525.

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California Limited Liability Company Act

gourdelaw — Mon, 03 Jun 2013 15:04:10 +0000

A limited liability company is a business entity that insulates its owners from the liabilities of the entity like a corporation, but is taxed for income tax purposes like a partnership. A family limited liability company (“FLLC”) is a limited liability company formed principally among family members under the California Limited Liability Company Act. An FLLC must have business purposes. An FLLC should only be formed in a state where the state law requirements for liquidation of the FLLC shall be as the owners (called members) specify in their operating agreement. The FLLC remains in existence until the earlier of the unanimous consent of all members, the expiration of a fixed term, or judicial dissolution.

If you have any questions about the California Limited Liability Company Act and how it can protect your family, please contact Mr. Gourde at (949) 825-6525.

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California Living Trusts

gourdelaw — Mon, 03 Jun 2013 15:03:03 +0000

Thomas L. Gourde an experienced California attorney that handles California Living Trusts. A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own living trust, keeping full control over all property held in trust. A “living trust” (also called an “inter vivos” trust) is simply a trust you create while you are alive, rather than one that is created at your death. Different kinds of living trusts can help you avoid probate, reduce estate taxes, or set up long-term property management.

If you have any questions about California Living Trusts, please contact Mr. Gourde at (949) 825-6525.

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California Estate Planning Trusts and Wills

gourdelaw — Mon, 03 Jun 2013 15:01:38 +0000

Thomas L. Gourde is an experienced estate planning attorney who understands California’s special requirements for California Estate Planning Trusts and Wills. For a will, when you are an executor, everything starts with the validity of the document and its language. It is the document that names you to serve as executor (although you must be given your legal authority by the probate court), and it contains directions you must follow when you eventually distribute the deceased person’s property. To begin, you will need to get your hands on the original document and file it with the local court (even if you do not think you will need to conduct a probate court proceeding).

Then you will need to spend time reading the document–not always an easy task since many wills are filled with “legalese.” An attorney can tell you how to decipher the terms of the will, and what kinds of provisions could cause confusion or family disputes. Outside circumstances can have a big effect on a will. For example, if the will-maker divorced after making the will, or had more children, the terms of the will may be affected by the changes.

California Estate Planning Trusts and Wills Requirements

For a Last Will and Testament in California, any person eighteen or more years of age who is of sound mind may create one. Sound mind generally means someone who has not been deemed incompetent in a prior legal proceeding. A will must be in writing, signed by the testator and by two witnesses. Witnesses to a will must be competent and not under any undue influence. Generally, it is recommended that the witnesses to the will be disinterested, which means that they are not beneficiaries of the will.

In California, the laws regarding the valid execution and witnessing of a Will are set forth in the California Probate Code; Division 6 Wills and Intestate Succession; Part 1 Wills; Chapter 1 General Provisions Section 6100; Chapter 2 Execution of Wills, Sections 6110 & 6112; and, Division 7 Administration of Estates of Decedents; Part 2 Opening Estate Administration; Chapter 3 Probate of Will; Article 2 Proof of Will, Section 8220.

A Consultation For Your Last Will and Testament In California

If you have questions about wills, trusts or other estate issues, please contact Mr. Gourde at (949) 825-6525 and he can assist you with your issues and concerns and answer your estate planning questions.

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California Probate Process

gourdelaw — Mon, 03 Jun 2013 14:59:18 +0000

The California probate process is expensive, time-consuming and open to the public. If you leave your estate to your loved ones using a will, everything you own will pass through probate. California’s probate court is in control of the process until the estate has been settled and distributed. If you are married and have children, you want to make certain that your surviving family has immediate access to cash for living expenses while your estate is being settled.

It is not unusual for the probate courts to freeze assets for weeks or even months while trying to determine the proper disposition of the estate. Your surviving spouse may be forced to apply to the probate court for needed cash to pay current living expenses. With proper planning, your assets can pass on to your loved ones without undergoing probate, in a manner that is quick, inexpensive and private.

If you have any questions about the California probate process, please contact Mr. Gourde at (949) 825-6525.

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California Trust Administration

gourdelaw — Mon, 03 Jun 2013 14:58:14 +0000

If a decedent had a properly drafted and funded trust, probate is generally not required in California. Unlike a will, a trust is a private document and need not be filed with the probate court. Nonetheless, the successor trustee must still take steps to administer the trust. California trust administration requires that beneficiaries must be contacted and kept informed, the trust-maker’s assets gathered and invested, any debts paid, potential creditors notified, taxes filed and paid, and assets and/or income distributed in conformity with trust provisions to beneficiaries.

Successor trustees often lack the time, resources or knowledge to personally administer the trust, and therefore may call upon legal, accounting and investment professionals for assistance.

If you have any questions about California Trust Administration, please contact Mr. Gourde at (949) 825-6525.

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California Conservatorships

gourdelaw — Mon, 03 Jun 2013 14:57:21 +0000

Adults are assumed to be capable of making their own decisions and acting in a way that is in their own best interests. However, there are times when a person lacks this ability. Some people never have this capability. California Conservatorships and Guardianships law provides for the appointment of an alternate decision-maker to act when someone cannot make decisions for themselves. These are court-appointed decision makers. They are called guardians and conservators. The person needing the guardian’s help is called the ward.

In situations where these legal issues arise, consult an attorney. If you have any questions about California Conservatorships and Guardianships, please contact Mr. Gourde at (949) 825-6525.

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California Elder Law

gourdelaw — Mon, 03 Jun 2013 12:56:11 +0000

Financial assets controlled by an elderly person are often vulnerable to fraud and other forms of financial abuse by criminals and even unscrupulous family members. California Elder Law is intended to protect elder abuse. Financial elder abuse can take many forms, including the relinquishment or transfer of assets under duress, theft of monies, pension or retirement check conversion, or withholding from the person the funds he or she needs to live. The financial assets maintained by an elderly person can be taken from them by theft, fraud, extortion, forgery, or improper or wrongful use of Power of Attorney, with or without their knowledge.

Once stolen, recovery of the elderly victim’s assets will often require legal action. Without a competent and experience elder abuse attorney on their side, they many not recover their funds.

If you have any questions about California Elder Law, please contact Mr. Gourde at (949) 825-6525.

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