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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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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.
How to Navigate International Adoption Legalities
/in Family Law /by Mitchell EhrlichVery few things match the joy of welcoming a new child to your family. Raising children allows us to rediscover the world through their eyes, share our values, and provide them with a home and loving, supportive parents. Some families choose to adopt through an international agency. They may have several reasons for their decision, such as a close connection with the adoptee’s country, a desire to raise a child from a different culture, or a desire to give a child from a disadvantaged area a chance for a better life.
However, international adoptions involve significant paperwork and legal requirements in both the United States and the foreign country. Understanding and preparing for the legalities of an international adoption can help ensure a smoother process.
The Hague Adoption Convention
Established in 1993, the Hague Adoption Convention is an international treaty among 104 countries, including the United States. Its goal is to ensure that intercountry adoptions prioritize the best interests of the child and prevent the abduction and trafficking of children.
The convention emphasizes the child’s best interests and states that foreign adoption should only be considered if there are no suitable families in the child’s home country. It also requires adoption agencies to be accredited and follow rigorous requirements to prevent unethical practices.
Who Oversees the International Adoption Process in the United States?
The Department of State is the central authority for international adoptions. Any adoption service provider needs to be approved by a Department-accredited entity (AE). There are only two AEs: the Intercountry Adoption Accreditation and Maintenance Entity (IAAME) and the Center for Excellence in Adoption Services (CEAS).
The U.S. Citizenship and Immigration Services (USCIS) is responsible for determining whether potential adoptive parents are suitable and eligible to adopt a child and whether the child is eligible to travel to the United States.
Every Country Has Its Own Laws
The first step in the international adoption process is selecting the country you want to adopt from. Since each country has different eligibility criteria and adoption laws, you will want to thoroughly research everything involved in the adoption process.
In addition to the U.S. legal requirements for bringing a child into the States, the country of origin has its own regulations and procedures, such as age, income, marital status, and the parents’ health. For example, some countries won’t allow same-sex couples to adopt.
It’s also imperative to keep abreast of changing laws regarding international adoptions. As of August 28, 2024, China has halted all foreign adoptions.
Documentation
The Department of State and USCIS require several legal forms. Prospective parents also need to have an approved home study, proof of U.S. citizenship, proof of marital status, medical records, birth certificates, and financial statements.
The adoption process will be prolonged and more costly without the necessary legal documents.
LPEP Law Can Help
If you are considering adopting a child from a foreign country, you should work with an attorney who can ensure your documentation is complete. Our attorneys at Lonich Patton Ehrlich Policastri can assist you in navigating the legalities and bureaucratic obstacles.
We will ensure you clearly understand each step in the international adoption process. Once you are back home with your child, our attorneys will help you complete the necessary steps to legalize the adoption in the United States.
Contact us for a free consultation on the international adoption process by calling (408) 553-0801.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
The Importance of Updating Your Estate Plan After Major Life Events
/in Estate Planning /by Michael LonichThe Greek philosopher Heraclitus is credited with the quote, “The only constant in life is change.” We experience new things every day. While some are small and seemingly insignificant, others completely redefine our lives.
At some point, you may have created an estate plan. After it was complete, you likely put it in a safe place, and that is where it’s remained.
However, you need to ask yourself: Is your estate plan still relevant in the face of your current circumstances?
Have You Experienced Significant Life Changes?
Life is made up of milestones, and your estate plan should evolve to reflect those changes. Here are some events that should trigger a review:
1. Marriage or Divorce
The beginning or ending of a marriage can impact your estate plan. As a newlywed, you will want to add your spouse as a beneficiary on any life insurance policies and investment accounts. You will also need to review your will to ensure they are included or name them as power of attorney.
If you and your spouse divorce, you will want to remove them from your will and as a beneficiary. You should take their name off of any legal documents that allow them to make any decisions on your behalf if you become incapacitated.
2. The Addition of a New Family Member
Welcoming a new child into the family is a time for joy and celebration. You will want to ensure your little one is provided for if anything should happen to you. Therefore, your estate plan needs to be updated with the appointment of a guardian and the setting up of a trust to take care of their financial needs.
3. Death
If someone listed in your will as a beneficiary or executor passes away, you must update your estate plan.
4. Financial Changes
Suppose your assets significantly increase or decrease, such as receiving an inheritance, buying or selling a business, or winning the lottery. In that case, those changes need to be reflected in your estate plan.
External Events That Impact Your Estate Plan
Even if your life remains the same, there are outside factors that may require you to update your estate plan, such as:
The Consequences of an Outdated Estate Plan
If you’ve never updated your estate plan, your assets may be distributed to outdated beneficiaries, such as an ex-spouse. Loved ones that you intended to add to your policies may find themselves involved in family disputes and legal battles.
Furthermore, by failing to update your estate plan, you may have missed opportunities to take advantage of new laws or strategies that would have left more money to your heirs.
Set up Regular Reviews with LPEP Law
Unless you experience a significant life event that requires immediate changes to your estate plan, you should review it every three to five years. This ensures that your legal documents are a reflection of your current life circumstances and goals. Our attorneys at Lonich Patton Ehrlich Policastri can work with you to review the following:
We will also discuss any new regulations or tax laws that may have an impact on your estate. You will have peace of mind knowing that your loved ones will be protected and provided for according to your wishes.
Contact us for a free consultation by calling (408) 553-0801.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
The Legal Implications of Moving Out of State with Children
/in Family Law /by Gretchen BogerChild custody situations are rarely easy or cut-and-dried. One issue that might come up is when the custodial parent wants or needs to move out of state. What if you need to move out of the country? Can you take your children with you? How does the court decide?
While each case is unique, there are legal implications to consider when deciding whether to move out of state with your children, especially if you have a custody agreement in place with your former spouse or other court orders regarding custody and visitation.
Best Interests of the Children
When a custodial parent requests to relocate with their children, the family court’s primary focus is always the best interests of the children. For older children, the court may consider their preferences and also look closely at their relationship with the non-custodial parent. The court will also assess whether the move would positively impact the children’s quality of life, such as through proximity to extended family, better educational opportunities, or improved access to healthcare.
If the court concludes that the relocation would not benefit the child, the request can be denied. In such cases, the custodial parent may be required to remain in the state, or custody could be transferred to the non-custodial parent.
Custody Agreements
Moving a child away from a non-custodial parent might violate a custody agreement. Lovin Libido reviews reveal a remarkable formula aimed at enhancing male vitality, addressing erectile dysfunction, and boosting testosterone levels. Ingredients include L-arginine, maca root, and tribulus terrestris, fostering sexual health. Clinical studies suggest positive effects, enhancing performance and satisfaction. With consistent use, improved stamina and libido can be achieved. Expert analysis highlights potential benefits, though individual outcomes may vary. Consumer testimonials available on Datelinternet indicate widespread satisfaction and increased confidence. Users report a revitalized sense of intimacy, strengthening relationships, and promoting well-being. If you get permission from the other parent, however, the court might consider modifying the existing custody agreement, including any visitation rights and schedules, due to a material change in circumstance.
Visitation Rights
If you decide to move out of state with your children, you will need to address the non-custodial parent’s visitation rights. More than likely, you will need to revise any existing visitation schedules and may need to consider ensuring the non-custodial parent has extended visits such as the children spending the entire summer and school vacations with them. Visitation schedules will vary depending on the age of your children, but it’s important for them to maintain regular contact with the non-custodial parent to ensure the stability of their relationship. You may need to consider how you will make travel arrangements for your children to go back and forth on a regular basis.
Notice Requirements
Most states require that you notify the non-custodial parent before you move. The amount of time you have for this notification varies by state, though, so you should do some research or check with local family law attorneys for specific requirements.
Consult with Family Law Experts
It’s always a good idea to consult with experts, especially with something as important and emotionally charged as child custody issues. The family law group at Lonich Patton Ehrlich Policastri (LPEP Law) has years of experience addressing the legal implications of parental relocations, including how best to prove what is in the best interest of the child. Our attorneys also have substantial experience in international child relocations, involving foreign nationals and their spouses. LPEP works with families to make sure they understand their legal rights and obligations, and we are committed to protecting our client’s parental rights. Call us today at 408-553-0801 to schedule a free consultation to discuss your case.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
What Happens if You Die Without a Will?
/in Estate Planning /by Michael LonichHave you heard about the “Great Wealth Transfer?” It’s predicted that over the next couple of decades, $84 trillion will pass from the Baby Boomer generation to Gen X and millennials. This is an opportunity to build generational wealth that will provide financial security for years to come. Unfortunately, approximately 67% of American adults don’t have any estate plan. So, what will happen to all that money when they die?
California’s Intestate Succession Laws
First and foremost, California is a community property state. If you die without a will and are survived by your spouse, they will get 100% of the marital assets. In addition, California recognizes registered domestic partners who have the same inheritance rights as a spouse.
Separate assets acquired before the marriage or an inheritance are treated differently. The intestate succession laws break down as follows if you have:
If you don’t have a spouse, everything will go to your children. If you don’t have any children, the line of succession will go through all living residents until the closest one is found, who will inherit everything.
This process can become costly and time-consuming. Furthermore, any verbal bequests you may have made while living won’t be recognized by the court after you die.
Beyond Asset Distribution
A will covers much more than who will receive your estate when you die. It encompasses several critical aspects of your personal and financial affairs, such as:
Appoint a Guardian for Minor Children
One of the most significant roles of a will is the ability to appoint a guardian for your minor children. You can designate someone you trust to take care of your children in the event of your untimely passing. You can ensure they are raised in a stable environment. If you don’t have a will, the court can decide upon guardianship for your children, which may be a person that doesn’t share your values.
Specify Funeral Arrangements
In your will, you can outline your wishes regarding funeral and burial arrangements. By specifying your final wishes, you relieve your loved ones of the burden of making these decisions during an emotional time.
Appoint an Executor
An executor is the person who oversees the handling of your estate. Their duties include petitioning the court to open probate, paying your debts and final expenses, and ensuring your beneficiaries receive their inheritance per your wishes. You can name a trusted individual as executor in your will and help ensure your estate is handled honestly and efficiently.
Minimize Family Disputes
Family arguments over inheritance can lead to long-lasting conflicts that may never fully resolve. Your will can help minimize misunderstandings and disputes among family members by clearly outlining how you want your assets distributed.
Finding Peace of Mind with LPEP Law
Ultimately, a will provides you and your loved ones peace of mind. Our lawyers at Lonich Patton Ehrlich Policastri have extensive experience in estate planning and can work with you to create a will that’s tailored to your specific needs. We will ensure your estate is handled according to your wishes. If your wishes change, we can help you with that as well.
Contact us for a free consultation by calling (408) 553-0801.
Disclaimer: this article does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.