Thomas C. Gores
- Bellevue
- Seattle
Tom's national reputation for his estate planning work includes 40 years of recognition in The Best Lawyers in America.
Tom Gores helps clients with personal tax and estate planning issues, trust and estate administration, and corporate fiduciary counseling. He advises business owners and multigenerational families on a variety of matters, including philanthropy planning and valuation issues.
Tom is a member of the American College of Trust and Estates Council. An active member of his community, he has served on the boards of various organizations, including the Swedish Hospital Foundation, Performing Arts Center Eastside, and Children's Orthopedic Hospital.
Areas of focus
Education & Credentials
Education
- University of Miami, LL.M., Estate Planning, 1977
- Notre Dame Law School, J.D., 1973
- University of Notre Dame, B.A., 1970
Bar and Court Admissions
-
Washington
Professional Recognition
Ranked in Private Wealth Law, Washington by Chambers High Net Worth (HNW), 2016-2024
Selected as a “Notable Practitioner” in Private Wealth Law by Chambers High Net Worth (HNW), 2016-2020
Listed in The Best Lawyers in America: Trusts & Estates, 1987-2024
Listed in Washington Law & Politics, “Washington’s Super Lawyers,” 2003-2024
Listed in Seattle Business Monthly, "Puget Sound's Top Business Lawyers"
Received the FIVE STAR Wealth Manager Award - Best in Client Satisfaction, 2010
Peer Review Rated AV in Martindale-Hubbell
(AV®, BV® and CV® are registered certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.)
Impact
Professional Leadership
- Washington State Bar Association, Real Property, Probate and Trust Section, Past Chairman
- American College of Trust and Estate Counsel, Fellow
- International Academy of Estate and Trust Law, Fellow
- Seattle Estate Planning Council, Past President
Community Involvement
- Children's Orthopedic Hospital Legacy Advisory Board
- Swedish Hospital Foundation Board
- Performing Arts Center Eastside (PACE) Board
News
Professional Experience
Personal Planning
Estate Tax Evaluation Disputes
Provided counseling and managed the favorable resolution of the estate tax liability in a complex estate involving multiple lawyers, experts and a corporation with international subsidiaries. The IRS obtained its own independent valuation of the corporation. The resolution involved extensive negotiations with the IRS and critical analysis of the experts' valuations.
IRS Private Letter Rulings Regarding Generation-Skipping Tax
Obtained favorable Private Letter Rulings from the IRS regarding the generation-skipping tax exemption.
Valuation Disputes Regarding Family Investment Companies
Managed the favorable resolution of multiple valuation disputes involving family investment companies at both the agent and the appellate level of the IRS. The resolutions involved complex legal and valuation issues.
Estate Planning Documents in Context of Family Dynamics
Assisting clients in the preparation of their wills, trusts, powers of attorneys and healthcare documents with an eye to internal family dynamics and the family members' abilities to handle fiduciary and business decisions. This process often includes consideration as to whether non-family executors and trustees may benefit the estate or trust administration. These documents include: revocable living trusts for lifetime management of assets or out-of-state real property to avoid probate, as well as durable powers of attorney for financial and healthcare decisions, Durable Powers of Attorney (DPA), healthcare directives and living wills, Health Insurance Portability and Accountability Act (HIPAA) authorizations for release of protected healthcare information, and premarital and postnuptial property status agreements that clarify status of community and separate property.
Family Office Planning
Providing ongoing consultation with active multi-functional family offices on a wide range of tax, investment management, estate planning and governance matters.
Gift Planning
Providing advice on tax efficient gifting to children and grandchildren, including drafting and implementing "Crummey" Trusts, Generation-Skipping Trusts, Residence Trusts (QPRTs), Grantor Retained Annuity Trusts (GRATs) and Irrevocable Life Insurance Trusts (ILITs). We also assisted clients with education savings planning, including tax effects of 529 Plans, and provided advice on tax efficient giving to charities, including Charitable Lead Trusts and Charitable Remainder Trusts (CLATs, CLUTs, CRATs and CRUTs). In addition, we prepared estate and gift tax forecasts and plans for payment of estate taxes for business succession.
Limited Liability Companies and Family Limited Partnerships
Established limited liability companies (LLCs) and family limited partnerships (FLPs) for the management of family real estate and other assets among multiple generations of the same family.
Maintaining the Privacy of Recognizable Individuals
Working with well-known clients and families to develop and implement a variety of strategies, including title-holding and fictitious name trusts, to enable them to buy, sell and hold real estate and other assets without the risk of being identified and located through searchable public records.
Private Foundations & Charitable Trusts
Assisted clients in establishing private foundations or charitable trusts to hold family assets. These include endowment agreements with various educational or charitable institutions. Provided ongoing family foundation counseling and grant making consultation and advice.
Probate and Trust Administration
Advising clients on estate and trust administration, probate, estate and trust dispute resolution matters and the preparation of gift and estate tax returns, including:
- Representing executors or administrators (a.k.a. personal representatives) of estates and trustees of trusts in the fulfillment of fiduciary duties,
- Representing beneficiaries regarding their interests in estates and trusts, and
- Advising and drafting nonjudicial binding agreements to modify will or trust terms or to settle fiduciary disputes.
Tax Representation
Preparing gift tax returns to report taxable gifts and federal and Washington estate tax returns and represented taxpayers on estate and gift tax audits.