Welcome to Cornerstone Law Center
At Cornerstone our focus is on providing innovative and personal service to our clients with both their estate planning and business services.
With our estate services we assist you with both the legal and personal advice that enhances your ability to transfer wealth to future generations, or charities, in a constructive manner that avoids unnecessary costs, taxes (property, gift, income or estate) and family strife. We help you make effective plans for life events including gifting, business transfers, and health care goals. We are experienced in all facets of estate work. Our services range from the design of your estate plan, to the implementation of that plan, review and maintenance, and ultimately the administration of your estate. Cornerstone uses a wide variety of tools, including trusts, wills, advance health care directives, powers of attorney, charitable trusts, insurance trusts, grantor trusts, estate freezing techniques, gifting and discounting to accomplish your goals.
Our business services can assist you in structuring your business from its creation; contracts, risk management, entity maintenance, general consultation, and transfers, buy-sell agreements, gifting, buy-out or sale. Because your business is a complex undertaking we work closely with you and your accounting, tax and financial advisors to avoid unintended consequences and to let you focus on managing your business.
Cornerstone is centrally located on the border of Westlake Village and Thousand Oaks (near Ventura and Los Angeles Counties), across the street from the Thousand Oaks Post Office. Many of our clients are from the Conejo Valley; Agoura, Agoura Hills, Thousand Oaks, Westlake Village, and Newbury Park; along with Moorpark, Simi Valley, Camarillo, San Fernando Valley, Oxnard and Ventura.
Cornerstone Law Center, Inc. was established in 2011. It is the successor firm to Entrust Legal, LLP.
1. When a second parent dies, it is a traumatic event for the remaining family. Worse yet the person who normally keeps disagreements in check is often the one who is no longer there.
I was the attorney for a trust administration with several adult beneficiaries who came to physical blows trying to divide the personal property. I had not drafted the Trust document but it was legally adequate if not inspired in its drafting. Between the children, their spouses and their children, the potential for the situation to explode into litigation and permanent estrangement was high. The real key to managing the administration was not how to divide the bank account or whether to sell the house; it was how to handle the pictures and the china.
I took all of the family pictures (several albums worth) and had them digitally scanned at high resolution. Every family was able to have the entire picture collection and could reproduce the physical pictures whenever they wished. Dividing the original albums became much simpler.
With regards to the one complete set of china and flatware that had been used for family gatherings, I purchased sturdy travel containers and the family agreed that whoever was going to host the next family gathering would take them from most recent event - tying the responsibility of hosting with the reward of using the heirloom china.
Once the tensions over the pictures and china had been relieved, the beneficiaries drew cards (2,3,4 etc.) to determine the order in which the rest of the disputed items would be selected. With the choices going from high to low and then from low to high until I ran out of items that were contested. While not everyone was overjoyed by the outcome, they were talking, planning the next family get-together and no one wound up in court.
2. A childless client wanted to give his considerable estate to charity. However, he had very specific scholarships he wanted to endow and the University would not guarantee they would use the funds the way he wanted the scholarship to be structured. Frustrated he came to me to figure out a way to accomplish his goal.
I explored his alternatives, re-interviewing the University's department in charge of scholarships and donations, looking at existing supporting organizations, local community funds and donor advised funds. I presented the client with my results and explained he had other options such as setting up a private foundation to manage the scholarships, independent of the university. After reviewing his options, he chose to create and fund the foundation which bore his name. With a relatively minor gift, I structured the foundation and applied for both its tax exempt status and for approval of the scholarship program my client wanted to establish. I received approval on both items.
I set up the board of the foundation with the client, his friends and advisers, whom it was expected would continue the program if my client passed away. For the past several years the foundation has been making small scholarship awards each year and is ready to accept additional donations from the client during his life; for which he receives a charitable income tax deduction of the proceeds of his estate at death, from which there will be no estate tax taken.
1. Preparing a business to be sold is rarely a simple or fast process. I have a client who came to me wanting to prepare her business for sale in the event she died. No one in her family wanted to take over the business and none of the employees could realistically purchase the business.
I reviewed her books and records and the general business condition. The business was typical of a successful small business. My client could quote products, vendors, prices, customers and competitors off the top of her head. But nothing other than financial information and taxes were on paper or organized. The employees knew some pieces but if my client wasn't available, the business would be difficult to sell or even run, drastically reducing its value at her death.
While my client was busy running her business, I was able to put together a plan to organize her records and create a central location for information. She identified several businesses that would be interested in buying the business and I calculated a value she thought was fair if the business was to be sold. At the same time, I made sure that her trust and other estate documents would work with the plan to quickly sell the business if she died. I discussed the plan with her trustee so that he would be able to act swiftly on her plan. It took almost two years to put everything together, but I was able to accomplish her goals.
About three years later, my client decided that she wanted to retire and began to look for a buyer for her business. She told me that her business broker was impressed with the way her business was organized and how easy it was to understand. She sold the business for more than she originally valued it and retired.
3390 Auto Mall Drive
Westlake Village CA 91362
I offer a free initial consultation. Consultations can generally last 30 minutes to an hour.
Complete Estate Plan (Revocable Living Trust, Will(s), Durable Power(s) of Attorney, Advance Health Care Directive(s), Certification of Trust, Funding Instructions, Assignment of Personal Property, 1 California residential Deed and ancillary documents) $2,495. (Mention Nolo and receive the Complete Estate Plan at $1,995) This planning includes such items as special needs planning or beneficiary trusts; complex distribution schemes and specific gifts.
Charitable Foundation: (Includes consultation, entity formation and IRS filings) $8,000
• Attorney $375
• Staff $125
Monday through Friday
9:00 a.m. to 5:00 p.m.
I came to the practice of law somewhat later in life than many attorneys. I was an operation officer before I became an attorney and had a bit of life and business experience behind me when I decided to practice law. Before going to law school I interviewed several attorneys who, for the most part, seemed fairly miserable in their jobs. Their stories were similar. They went to law school, graduated, passed the bar and with varying degrees of debt, marital and children status, went to work for the firm that offered them the best deal, doing whatever that was. Then five years later or so, they decided that they really didn't like doing what they were doing, but were trapped. They made very good money and had grown accustomed to their lifestyles. To change areas of legal practice would mean going backward in status, pay and maybe jobs as they learned another field - they felt trapped.
So after I passed the bar, I determined I would not make the same mistake. I tried every type of law I could: litigation and jury trials, bankruptcy, appellate work, governmental law, contract and administrative law, and estate planning. After about three years I found, for a variety of reasons, estate planning and business services offered some unique benefits.
If done correctly I can prevent problems rather than just cleaning up messes. It was one of the very few areas of law where I could be proactive in dealing with issues. Another bonus was that I get to know my clients, sometimes over many years. I can watch and help them grow and be successful. Generally, I get to deal with happy people and make their lives better. What a great job!
A knowledgeable client is a good client. One of the most difficult tasks that an attorney has is taking complex situations and trying to explain the options and potential results in sufficient detail so that a client can make informed decisions. A client who has educated themselves on a particular topic or issue not only makes that translation easier on me, but reduces the time (and often cost) it requires providing legal services.
In both the areas of Estate Planning and Business Law, difficulties often arise. Not because we are limited in our options, but because there is an overwhelming number of options available. A client who has researched the issues has already thought about what it is they want to accomplish. The time spent considering the desired outcome gives the client and myself more peace of mind in determining that the final outcome is one that is the best for the client.
I do review documents prepared by clients. However, in my areas of practice, the creation of the document is rarely the most important part of the process. I don't sell documents "by the pound." Much of my value to the client is in understanding their situation, their goals and the limits on what they can do to accomplish these goals. The documents are a memorialization of that process.
For example, if a client shows me a will she created and says, "I have three children and I want my assets to go to them equally," it is not particularly time consuming to look at the will to determine that indeed the will says exactly that - or not. However, that type of review will not reveal that one of her children is disabled or has an addiction to drugs. It will not let me know if she wants her children to attend college, to value work, to own a home or is on a third marriage.
Further, I don't know if she has considered or understands all the options available to her. Does she know that her will causes her estate to go through California's probate system? Did she realize that she didn't have to name one of the children as an executor, that she could name more than one?
Finally, and quite simply, if/when I review a document; I may take on liability if I fail to counsel my client properly. So I review documents, in writing, after consultation with my client and I do charge for the review.
I will counsel clients who have questions about legal issues and their options. For example, in the administration of a trust estate I have counseled several clients on different issues that occurred in the administration but did not take on the role of attorney for the estate. The client managed the identification, valuation and distribution of the estate's assets on their own.
I often consult with business owners without undertaking a specific legal task. Many times owners want to explore their options before deciding to provide a new service, purchase property, or enter into an agreement with a vendor.
I was one of the founding attorneys at American Law Center, Inc., located in Camarillo, California. American Law Center was focused on providing estate planning and business services to the members of local organizations. In 2004, one of the partners made a decision to retire and the firm was sold.
In 2005, I opened an individual practice under my name. I assisted a wealth management firm and their clients with estate planning and business services. In 2009, I formed Entrust Legal, LLP to provide expanded services to my clients. About a year later my partner made a decision to pursue a non-legal career and the firm became Cornerstone Law Center.
I have created and sold two businesses. I have worked most of my life; as an employee, in management and as an owner. That experience has given me a unique view of how businesses work. I understand that it is not enough just to say "no" to a question asked by a client - you have to be able to find a workable solution. I have heard the comment that "lawyers are deal killers." But really, attorneys should be looking for a way to make the deal work - and work not just for today but to set up a structure that will work as long as desired.
I study and expand my knowledge for the benefit of my clients. The State Bar of California has Certified me as a Specialist in Estate Planning, Trust and Probate Law. Because I deal fairly extensively with real estate, I take real estate continuing education and hold a California Broker's License (01319038), not to sell real estate, but to understand how the process really works. Similarly, I keep current on insurance issues and education because they have significant impact on my clients' lives and businesses.
I am an excellent translator. I take complex concepts and jargon, and break them down into understandable terms. I like to take the time to understand my clients and make sure they understand the options available to allow them to achieve their goals.
I tend to think like an entrepreneur when it comes to business matters. I look for ways to say, "yes" to the project. I understand that sometimes businesses need to take risks. It is my job to help mitigate that risk and make sure that the risk is understood, but ultimately the decision on whether to move forward is the client's.
I'm a voracious reader, though recently I've become addicted to audiobooks - I'm even listening to continuing education programs. I have three terrific dogs that demand walks as soon as I get home.
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