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Couple facing each other with hands folded, signing prenup

What to Know Before Signing a Prenup

October 26, 2022/in Family Law /by David Patton

When two people fall in love and decide to get married, everyone tends to focus only on the exciting events to follow. While marriage is definitely something to celebrate, it is nothing to be taken lightly. It is a lifelong commitment that unfortunately is becoming increasingly likely to end in divorce. A prenuptial agreement can go a long way in ensuring the safety of both partners’ assets, business interests, and family trusts.

What is a prenuptial agreement?

Prenuptial agreements, also known as a “prenup”, is a private agreement between the two spouses-to-be. It sets out the stipulations of your marriage and outlines the provisions for what will happen in the event of a divorce or the untimely death of either spouse. Prenups most commonly outline who will receive property and other assets, including property owned by each spouse prior to getting married and whatever they might acquire together after getting married. In the state of California, this legal document declares the assets and debts of each individual before marriage and how those will be separated after a divorce. A prenup can also dictate how much alimony a spouse is entitled to. It is also becoming more common for pets to be included in prenuptial agreements.

Why get a prenup?

There are many, many reasons to have a prenuptial agreement in place prior to getting married. A few of these are:

To protect assets and property owned before getting married.
To establish a plan for paying expenses during the marriage.
To protect children, parents, or other family members from the fear of a new spouse taking advantage of assets or property.
To designate ownership and distribution of benefits from a life insurance policy.
To protect a business or estate.

Prenuptial agreements can’t include anything that goes against public policy or that is downright illegal. For example, a prenup that contains anything that will adversely affect the rights of a child will be deemed unenforceable. The courts will always act in the best interest of a child. However, prenups can go above and beyond in making provisions for children. They can dictate the responsibility of each parent for future college expenses and other financial needs of the child. California Family Code Section 1612 specifically states what is legally able to be included and enforced in a prenuptial agreement.

Consult with an expert on whether a prenuptial agreement is right for you.

Having a prenup in place before getting married can give both you and your partner peace of mind. Hopefully it is something you don’t ever need, but in the unfortunate event that a divorce does happen, it is better to know that your assets are protected. Here at Lonich Patton Ehrlich Policastri, we specialize in Family Law and Estate Planning. We have significant experience in drafting prenuptial agreements that can withstand a court challenge. We have combined litigation experience of over 100 years and we know just how messy and complex a divorce can be. Call us today at 408-553-0801 or click here to schedule a free 30-minute consultation.

Gavel between silhouette cut outs of family, affair

How Does An Affair Impact Custody Agreements?

October 18, 2022/in Family Law /by Virginia Lively

An affair is a life-altering event. The repercussions of infidelity affect far more people than just the spouse who was cheated on. Often, the party who suffers the most is the most innocent – the children. In addition to their family structure being shaken up, they will now have to split time between both parents. Before this happens, a custody agreement must be arranged in court. So, how does an affair affect custody agreements?

California is a no-fault divorce state.

Here in California, the court system does not need to know the specific reasons why a marriage is being dissolved. Even though an affair might be the reason why a couple is seeking a divorce, the court will rule it as “irreconcilable differences” without determining which party is at fault.

With that being said, infidelity typically has little to no impact on determining child custody. The spouse who was spurned by the affair cannot use being cheated on as a reason to deprive the other parent of custody. The best interest of the child is what the court bases custody rights off of, and a parent’s romantic interests usually don’t have much effect on that.

There are exceptions to every rule.

Although infidelity alone will not have an impact on the custody agreement, other factors which stem from an affair might. For example, if there was domestic violence or substance abuse in the home, that would certainly impact child custody. If the spouse having the affair was neglectful to the children and left them unattended and unsupervised to meet up with their romantic interest, that would also impact custody.

Likewise, if the parent who was cheated on proves to be vindictive and is going to create a negative environment for the children, the court would take that into consideration. The safety and well-being of the children should be the forefront concern for both parents. If either parent is not capable of providing a safe and nurturing environment for their children, that will become a factor in the custody proceedings.

How do I know if an affair will affect my custody agreement?

Every case is different, and there is no “one size fits all” advice when it comes to topics as complex as child custody. Here at Lonich Patton Ehrlich Policastri, we specialize in family law and estate planning. We are located in San Jose, CA, and serve the greater Bay Area. We are one of the largest practices in the Bay Area and we are Board Certified Family Law Specialists. We have been serving the community since 1994. Our attorneys genuinely care about each individual client and we want to take the time necessary to understand your objectives and meet your needs. We have the proper resources, training, and experience to serve your family with the best expertise in the area.

Please give us a call at 408-553-0801 or fill out our contact form for a free consultation. You deserve to know your rights and the best way to proceed with a divorce and custody agreement.

Document on clipboard with pencil showing inherited IRA, inheriting an IRA

What Happens When You Inherit an IRA?

October 12, 2022/in Estate Planning /by Michael Lonich

The short answer is: it depends. Navigating what happens after inheriting an IRA (individual retirement) account can seem overwhelming, but we at Lonich Patton Ehrlich Policastri are here to help you know your options and determine your next steps. Estate planning is one of our areas of expertise, and we are more than happy to help you make decisions regarding your new inheritance.

Know what kind of IRA you have inherited.

The very first thing to do upon finding out you have inherited an IRA is to figure out important details such as what type of account it is. There are multiple types of IRAs, but the most common two are a traditional IRA and a Roth IRA.

With a traditional IRA, you contribute money before you are taxed on it. The money contributed might be able to be deducted from your taxes, and the money invested grows tax-deferred until withdrawing the money. Oftentimes retirees are in a lower tax bracket when they were working, the money might be taxed at a lower rate when they do begin withdrawing funds.
With a Roth IRA, you are taxed in your contributions before investing them. This means that when you do begin withdrawing money, you will not pay taxes on it, as long as you meet certain requirements.

Knowing the account type is significant because the tax treatment remains the same for the heir as it was with the original owner. The beneficiary will typically have to move the assets from the original account over to a newly opened inherited IRA in their name.

What type of beneficiary are you?

Anyone is able to inherit an IRA, but the rules for what they can do with it differ depending on whether the heir is the spouse of the deceased or not. Due to the passage of the SECURE Act of 2019, non-spousal heirs who inherit an IRA on or after January 1, 2020, now have even more limited options than before. Funds must be spent within 10 years of the original account owner’s passing, regardless of account type. Spouses tend to have more freedom with how they manage their inherited IRA.

Other factors that come into play include when the account was opened and if the original investor had begun taking out their required minimum distributions (RMD) for a traditional IRA.

There is no one-size-fits-all explanation for inheriting an IRA.

Each situation is different, and every heir faces different circumstances. Here at LPEP Law, we have highly qualified trust and estate lawyers on staff who are eager to help you determine your next steps once you inherit an IRA. Click here to schedule a free 30-minute consultation with us, or give us a call at 408-553-0801. We are more than happy to equip you with the knowledge of how to proceed as a beneficiary. We are committed to treating every individual client with the utmost respect and professionalism, and to making this journey as easy as possible for you.

Person signing divorce agreement, contested vs. uncontested divorce

What Is the Difference Between Uncontested and Contested Divorce?

October 5, 2022/in Family Law /by Gretchen Boger

When most people think of divorce, they imagine a long and arduous process full of conflict and bitterness. However, this is not always the case. In some instances, divorces can be relatively smooth and amicable.

But what is the difference between a contested and uncontested divorce? Let’s take a closer look.

Contested vs. Uncontested Divorce

When both parties can’t agree on one or more issues, such as division of assets and debt, child custody, child support, and spousal support, it is considered a contested divorce.

In contrast, If parties have already agreed on all issues, then the divorce is considered uncontested. To file for an uncontested divorce, both parties must sign and file a marital settlement agreement with the court. If the court finds it is fair and equitable, it will approve the agreement and issue a final divorce decree. However, if the court finds that the agreement is unacceptable, it will send the parties back to negotiations to reach a resolution.

An uncontested divorce saves time, money, and stress for both parties involved. In addition, uncontested divorces tend to have a lower level of conflict, which can benefit any children involved. If the parties can communicate and cooperate with each other, they may be more likely to reach an agreement that is fair and agreeable to both sides.

While uncontested divorces are often cheaper and faster, there are certain benefits to a contested divorce.

It helps to ensure that both parties are fairly represented. If one party feels they are not receiving fair treatment, they can hire an attorney and take their case to court.
The judge will make sure that all assets are appropriately divided. In an uncontested divorce, both parties may be tempted to overlook certain assets to save time and money. However, in a contested divorce, both parties are required to list all of their assets and negotiate a fair distribution.
A contested divorce can also help to protect the rights of both parties. For example, if one spouse is asking for alimony or child support, a court will review the case and make an unbiased ruling based on what is just.
It allows the court to consider all of the evidence before making a decision. This can provide peace of mind for both parties knowing that the court has considered all relevant factors before ruling.

While no one likes the idea of going to court, a contested divorce can sometimes be the best option for ensuring an equitable outcome.

Whether you are considering a contested or uncontested divorce, the legal process is complex. If you live in San Jose or the greater Bay Area, our attorneys at Lonich Patton Ehrlich Policastri can help you with your case. Our team of lawyers has years of experience in family law and divorce litigation.

Contact us for a free consultation by filling out our contact form or calling 408-553-0801. We will make sure you receive a fair settlement.

Paper chain of family sitting in set of cupped hands, child custody agreement

How to Develop a Child Custody Agreement Without Going to Court

September 27, 2022/in Family Law /by Gina Policastri

Separation and divorce are difficult for everyone involved, but if you have children the situation can become even more complicated. There are two types of child custody that you must consider: legal and physical. Legal custody refers to who makes the decisions for the child related to things like health care, schooling, and welfare issues. Physical custody refers to who is responsible for providing shelter for the child and who spends the most time with them. Parents can have sole or joint legal or physical custody. In general, a child custody agreement must be approved by a judge in order to be legal and enforceable under state laws. Even though a judge needs to approve the custody agreement, many parents prefer to develop a plan outside of court before bringing it to a judge, which is sometimes more cost-effective and less contentious than a drawn-out trial in court.

Developing a Parenting Plan

The first step in developing a custody agreement is to agree on a parenting plan, which is basically a proposed custody agreement outlining whether custody will be joint or not, the details of visitation schedules for the non-custodial parent, if applicable, as well as the duties and responsibilities of each parent. Parenting plans usually also provide information about parental rights and the rights of other parties who might be involved in the child’s life such as grandparents or stepparents. Although there is no set form for parenting plans, they can be as detailed or as simple as the parties want.

Ways to Arrange a Custody Agreement Outside of the Court

There are a few different ways to arrive at a parenting plan and then custody agreement outside of court:

Informal Negotiations – if parents have a mostly amicable relationship they might choose to create a parenting plan together through direct communication and discussion without involving outside parties.
Collaboration – if parents cannot agree on a parenting plan, they might choose to communicate through their attorneys.
Mediation – if direct communication or collaboration fails to provide the desired results, some parents turn to mediation, a process in which a neutral third party works with both parents and their attorneys. It should be noted that nothing the mediator says or does is legally binding.

Using any of the methods above, once the parents arrive at a parenting plan that is acceptable to both sides, both parties must sign the agreement and present it to the court for approval.

Deciding What is Best for Your Situation

Custody decisions are always delicate because the emotions and well-being of children are involved, but sometimes they can also be complicated by more serious issues such as domestic violence, allegations of abuse or one parent moving far away or even living in another country. Even in less complicated cases, parents going through divorce and fighting for custody tend to be stressed and emotional, which might make it difficult to think clearly or come to an agreement.

Hiring an attorney to assist you can make a particularly difficult time in your life easier. Our team of experienced family law attorneys at Lonich Patton Ehrlich Policastri has been helping families in the greater Bay Area navigate the complicated landscape of custody arrangements and the court system for decades. Call us today at 408-553-0801 to schedule a free half-hour consultation. We would be happy to discuss your options and help you decide on the best path forward in your unique situation.

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Contact Us

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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This web site is intended for informational purposes only and is not legal advice. Nothing in the site is to be considered as either creating an attorney-client relationship between the reader and Lonich Patton Ehrlich Policastri or as rendering of legal advice for any specific matter. Readers are responsible for obtaining such advice from their own legal counsel. No client or other reader should act or refrain from acting on the basis of any information contained in Lonich Patton Ehrlich Policastri Web site without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue.

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