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LONICH PATTON EHRLICH POLICASTRI
1871 The Alameda, Suite 400, San Jose, CA 95126
Phone: (408) 553-0801 | Fax: (408) 553-0807 | Email: contact@lpeplaw.com
LONICH PATTON EHRLICH POLICASTRI
Phone: (408) 553-0801
Fax: (408) 553-0807
Email: contact@lpeplaw.com
1871 The Alameda, Suite 400
San Jose, CA 95126
Located in San Jose, Lonich Patton Ehrlich Policastri handles matters for clients in northern California, specifically San Jose and Silicon Valley. Our services are available to anyone within the following counties: Santa Clara, San Mateo, Contra Costa, Santa Cruz, Monterey, San Benito, and San Francisco. For a full listing of areas where we practice, please click here.
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Guide to Creating a Special Needs Trust for a Disabled Child
/in Estate Planning /by Michael LonichEstate planning is one of the best ways to provide for your family when you are gone. When you have a disabled child, it’s even more important to have a plan in place before you actually need it since they will likely need ongoing assistance. While many people set up trusts to distribute funds to their children, your disabled child might benefit from a specific type of trust known as a special needs trust (SNT). The following guide goes over what you need to know about creating an SNT for a disabled child.
What Is a Special Needs Trust?
A special needs trust is a legal document that outlines your wishes for the distribution of funds from your estate to support your disabled child. Since many public benefits require the recipient to qualify as having low income or few assets, you don’t want to leave a large inheritance directly to your disabled child because those assets might disqualify them from receiving government benefits. An SNT protects them financially by distributing funds in a way that does not interfere with any government assistance the child might be eligible to receive.
Funds in an SNT generally pay for expenses that would not otherwise be covered by public benefits, including:
Special needs trust application with clipboard and notepad.
How to Set up a Special Needs Trust
There are several important steps to take when setting up an SNT.
Choose a Trustee
First, you want to designate a trustee who will be responsible for managing the assets on your child’s behalf. Some important considerations when choosing a trustee include that the person is trustworthy, is willing to serve in this capacity, is young and healthy enough to help your child long-term, has a good relationship with your child, and has the appropriate knowledge and ability to manage finances and comply with legal requirements.
Draft the Trust
Consult with an experienced estate planning attorney who specializes in special needs trusts to help you draft your document. Working with a professional will ensure that your trust is in compliance with relevant state and federal laws and will not interfere with government benefits like Medicaid or Supplemental Security Income. They can also assist you in assessing the future needs of your child and in clearly defining how the funds should be used.
Fund the Trust
After you have created the SNT, you can decide what assets you would like to fund it with, including cash, real estate, investments (including stocks and bonds), and other assets. On your life insurance policy, you can list the SNT as the beneficiary, so assets will transfer to the trust rather than directly to your child. You can also set up the fund so that other people, such as family members, can contribute as well.
Want to Set Up a Special Needs Trust? We Can Help!
Establishing a special needs trust is a thoughtful step you can take to help safeguard the financial future of your special needs child. Our estate planning group at Lonich Patton Ehrlich Policastri has significant expertise in preparing estate planning documents, including SNTs. Contact us today to schedule your free consultation where we can discuss your unique situation and go over your options with you.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
Considering Adoption? Key Legal Insights for Your Family
/in Family Law /by Gina PolicastriAdopting a child comes with many emotions. The adoptive parents feel the excitement and joy that accompanies the arrival of a new family member. With those feelings of happiness, adoptive parents may also experience anxiety and uncertainty. In addition to the emotional components that are a part of the adoption process, there are multiple laws and regulations that contribute to the anxiety.
However, knowledge is the best defense against uncertainty. Having a basic understanding of some key legalities can help you prepare you for your adoption journey.
Age Requirements
California doesn’t have a specific age requirement for adoptive parents. It only requires that they are legal adults, and there is at least a ten-year age gap between the parents and child. The exceptions to this law are adoptions by siblings, stepparents, or another close relative.
If the child is twelve or older, they must give their consent to being adopted.
A Secure and Stable Home
California doesn’t have strict requirements regarding marital status, income, or home ownership. Single individuals and same-sex couples are eligible to adopt. Judges care about what is in the child’s best interest. Therefore, they will look to place a child in a home that can provide them with a safe, supportive, and loving environment.
A thorough criminal background check will be conducted. The judge won’t place a child in a home where one of the occupants has been convicted of the abuse of a spouse or child, neglect, child pornography, rape, sexual assault, or homicide. In addition, there are other felonies that would prohibit the adoption of a child.
The Home Study Process
The home study is essential in assessing your home environment and ensuring the child is adopted by a loving, nurturing family. There are multiple components involved with the study:
In addition, you will need to attend an adoption training program to prepare you with the skills and knowledge you will need to raise your child, especially if the child has special needs or has experienced trauma.
Do Birth Parents Have Any Legal Rights
Some prospective adoptive parents worry the birth parents will change their minds and take their child back. However, California outlines the legal rights of birth parents in the adoption process. They must voluntarily consent to the adoption. If there is no father listed on the birth certificate, every attempt must be made to locate them.
In an independent adoption, the birth parent has 30 days to revoke their consent.
Many families choose open adoptions. The birth and adoptive families have some level of communication after the adoption. They may share pictures, have video chats, or in-person visits.
Navigating the Adoption Process with LPEP Law
If you are considering adoption, your first step should be contacting one of our lawyers at Lonich Patton Ehrlich Policastri. We will work with you throughout the adoption process to ensure that the paperwork is complete and that legal requirements are met.
We understand that adoption can be an emotional process that involves multiple moving parts. Your attorney will be with you every step of the way, from the initial consultation to finalizing the adoption and beyond.
Contact us for a free consultation by calling (408) 553-0801. Your adoption story can begin today.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
Sibling Rivalry and Inheritance: Navigating Fair Distribution in Estate Plans
/in Estate Planning /by Michael LonichMoney can be a touchy issue, especially among close family members. According to an Ameriprise study, when siblings argue about finances, it’s usually about how an inheritance gets divided up and whether parents are being fair to each child when it comes to financial support. Fair distribution of assets in estate planning can be complicated, but that doesn’t mean it’s impossible. The following are a few tips and strategies to help you navigate this process with your family.
Maintain Open Lines of Communication
While many people are uncomfortable talking about money, avoiding the discussion will only make things more difficult in the long run. Encourage family discussions about inheritance preferences (especially about sentimental objects like family heirlooms, jewelry, etc.) while everyone is still alive.
It’s best to set specific times for these discussions. Don’t try to have a serious conversation about estate plans at a holiday gathering. Even though everyone is together, the focus of holidays and special events should be about fun and togetherness.
Open lines of communication will hopefully promote transparency and help address potential grievances before they become a problem.
Decide Between Equal or Equitable Distribution
In many cases, equal distribution among siblings makes sense. However, it’s important to consider the individual circumstances of each child. If one sibling has been more involved in caregiving, for instance, it might be more fair to increase their share of the inheritance. Or, if one child is struggling financially, has special needs, or will require more financial help in the future, you might choose equitable distribution of your assets, rather than equal distribution. Clearly communicating this distinction to your children is important and might help protect against conflicts and hurt feelings.
Involve a Neutral Third Party
Many families find it helpful to hire a mediator or estate planning expert to facilitate difficult and sensitive discussions and establish a plan that is in everyone’s best interests. Siblings might be more willing to be honest with a neutral third party and feel more comfortable with this type of formal discussion and setting.
Consider Using Trusts as Tools
Setting up trusts or college funds is another way that you can thoughtfully provide for your children while also controlling the distribution of funds, protecting the assets from potential disputes, and minimizing conflict.
Other Considerations to Avoid Conflict
Other things to think about when estate planning that might smooth out the process and head off sibling rivalry before it begins:
Our Estate Planning Group Has Been Helping Families Like Yours Since 1994
When it comes to protecting your family’s future, the estate planning attorneys at Lonich Patton Ehrlich Policastri can help you have the difficult but important conversations you need to have and go over all your estate plan options so you can make informed decisions. Call us today to set up a free consultation.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
Military Family Matters: What Legal Considerations Are Important?
/in Family Law /by Virginia LivelyMilitary families face unique challenges that require thoughtful legal planning. From deployment to relocation and the complexities of military benefits, it’s essential to understand the legal considerations that can protect and support service members and their loved ones.
Understanding Military-Specific Legal Protections
Service member’s families benefit from several legal protections designed to safeguard their rights during service. Two critical areas to consider are employment and housing.
The Servicemembers Civil Relief Act (SCRA) for Military Families
The SCRA provides active-duty military members with protections against financial and legal burdens, such as:
Understanding these rights is crucial for preventing undue financial or legal stress during deployments or other service commitments.
Uniformed Services Employment and Reemployment Rights Act (USERRA)
USERRA ensures job protection for service members when they return from active duty. Employers are legally required to reinstate returning service members to their jobs and provide reasonable accommodations.
Addressing Family Law Issues in Military Life
Family law issues can become complicated for service member families due to frequent relocations, deployments, and state law variations.
Custody and Parenting Plans for Military Families
Deployments and relocations often impact child custody arrangements. Military families should draft custody agreements that account for:
Working with an attorney experienced in service member family law can help create a plan that prioritizes the child’s best interests.
Divorce and Spousal Support for Military Families
Divorce in a service member’s family involves unique considerations, such as the division of military pensions and determining eligibility for continued healthcare benefits. Understanding these nuances ensures fair outcomes for both parties.
Estate Planning for Military Families
Estate planning is essential for service member families to secure their financial future and provide peace of mind.
Powers of Attorney and Wills for Military Families
Service member members should designate a trusted individual to make legal and financial decisions through a power of attorney. Additionally, drafting a will ensures assets are distributed according to their wishes.
Survivor Benefit Plan (SBP)
The SBP provides financial security for surviving family members. Service members should review and update their SBP elections regularly, especially after major life changes like marriage, divorce, or the birth of a child.
Navigating Military Benefits
Understanding and maximizing military benefits can significantly impact a family’s financial stability.
TRICARE and Healthcare Benefits
TRICARE provides healthcare coverage to service member families. Familiarizing yourself with coverage options, eligibility, and enrollment periods is crucial to maintaining uninterrupted healthcare access.
GI Bill and Education Benefits
The Post-9/11 GI Bill allows service members to transfer unused education benefits to spouses or children. Planning how to utilize these benefits can support the family’s educational goals.
Proactive Legal Planning Is Key: Contact LPEP to Discuss Military Family Matters
Military life is demanding, but proactive legal planning can alleviate stress and protect the well-being of service members and their families. By understanding their rights and benefits, addressing family law issues, and investing in estate planning, service member families can navigate their unique challenges with confidence.
Consulting with a legal professional familiar with service member issues can provide tailored guidance to meet your family’s needs. At LPEP, our expert attorneys specialize in family law and estate planning. With vast experience in military legal matters, we’ll ensure you and your family are protected and supported in every way possible.
Contact us today to schedule your free consultation.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
Newlyweds’ Financial Fitness: Estate Planning Tips
/in Estate Planning /by Michael LonichStarting a new chapter as newlyweds is exciting, but it also comes with new responsibilities, especially when it comes to financial planning. One crucial yet often overlooked aspect is estate planning.
Creating an estate plan not only protects your assets but also ensures that your spouse is taken care of should the unexpected happen. Here are some essential estate planning tips for newlyweds to help safeguard your financial future.
1. Create or Update Your Will
A will is an essential estate planning document that outlines how your assets will be allocated after you pass away. As newlyweds, you may want to leave your assets to your spouse or other family members, but without a will, state laws will determine how your estate is divided, which may not align with your wishes.
Steps to Take
2. Designate Beneficiaries
Your will doesn’t govern all of your assets. Some accounts, such as life insurance policies and retirement accounts (401(k), IRA), pass directly to the beneficiaries named on those accounts. As newlyweds, it’s essential to update these designations to ensure your spouse is the primary beneficiary.
Key Accounts to Update
By keeping these beneficiary designations current, you avoid potential delays or disputes in asset distribution.
3. Establish Joint Ownership of Assets
Many newlyweds combine their finances, and joint ownership of assets can simplify estate planning. Consider holding major assets like homes, vehicles, and bank accounts in joint tenancy with rights of survivorship. This ensures that if one spouse passes away, the other automatically inherits the asset without it going through probate.
Benefits of Joint Ownership
Assets held jointly can transfer directly to the surviving spouse without the lengthy probate process. It also makes managing and accessing your shared assets much easier during your marriage.
4. Set Up a Power of Attorney
A financial power of attorney allows your spouse (or another trusted person) to manage your financial affairs if you become incapacitated. Without this in place, your spouse may face legal hurdles to access your finances or pay bills on your behalf.
Medical Power of Attorney
Similarly, a medical power of attorney gives your spouse the authority to make healthcare decisions if you’re unable to do so. It ensures that your spouse can make critical decisions about your care during emergencies.
5. Consider a Living Trust
A living trust allows you to transfer assets to a trustee to manage for your benefit during your lifetime and for your beneficiaries after your death. It offers more control over asset distribution and can avoid the probate process altogether. Newlyweds with significant assets or complex financial situations might find that a living trust adds a layer of protection and flexibility.
Just Married? Start Estate Planning With LPEP!
Estate planning might not be the most romantic task on your newlywed to-do list, but it’s one of the most important. At LPEP, our experienced estate planning attorneys specialize in the preparation of estate planning documents, such as wills, revocable living trusts, and more.
Financial fitness for newlyweds isn’t just about managing day-to-day expenses; it’s about securing your future together. Contact LPEP to set up your free consultation.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.