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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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What’s The Difference Between Wills And Trusts?
/in Estate Planning /by Michael LonichNobody likes to think of leaving their loved ones behind, but it is an inevitable part of life that we will all face. Fortunately, wills and trusts allow people to ease the burden of their passing on their loved ones.
Wills and Trusts in Estate Planning
One of the most important steps that you can take in financial planning is to develop a plan for your estate in the event of your death or inability to manage your assets. While most people don’t like thinking about estate planning, it is an essential process to guarantee that your assets are given to their intended recipients.
When discussing your estate plan, it is important to decide if you want to create a will or a trust. Wills and trusts are both legal documents that dictate how a person’s assets must be distributed upon the person’s death.
If you are wondering what’s the difference between a ‘will and a trust?’ then you are not alone. While both wills and trusts have their advantages, it is important to understand their nuances so that you can choose the route best suited for your unique circumstances.
How a Will Can Help You
A will is a legal document in which a person specifies who they want to give their assets to — the beneficiaries — and how they want their assets to be divided among the beneficiaries upon the event of their death. A will automatically applies to all property that the creator owns, excluding joint-property and property owned via a trust or covered by a beneficiary designation or certain joint ownership that transfers at death.
Wills provide the benefits of being able to name a guardian for children if they are under 18 and being able to specify funeral arrangements. Additionally, they are relatively inexpensive to create, even with the help of an estate planning lawyer.
When a person creates a will they must designate an executor – a person who is responsible for executing the tasks of distributing the property according to the legally-mandated instructions in the will. It is important to include pertinent information in the will such as bank account numbers, life insurance policy numbers, and passwords to access the accounts and make the executor’s job easier.
Unlike a trust, a will must pass the probate process before the property is available for distribution. Probate is a court hearing in which a judge determines the validity of a will. While most wills pass in probate, it may be subject to a lengthy process if there are discrepancies in the will or if the judge has other reasons to doubt its validity. Since the probate process is a public hearing, it means that the individual’s private information will also be made available to the public.
A lengthy probate process amplifies the pain and stress of losing a loved one and a mistake in drafting the will can make it susceptible to a long hearing. In order to ensure a quick probate, it is highly recommended to hire a lawyer to ensure the will is lawfully dictated, especially for individuals with high-net-worth estates.
How a Trust Can Help You
A trust is a legal document that designates a “trustee” to manage the property included in a trust. A trustee can be a person, an institution, or a group of individuals who are responsible for actively managing the assets both during the person’s lifetime and/or after their death. A trust also includes beneficiaries, who are the people that will receive the assets.
Unlike a will, a trust does not automatically include all of the individual’s property and must be actively managed. Since a trust requires active management, it may be more expensive to create. Generally speaking, a trust is recommended for people who plan to make contributions to the trust throughout their lifetime, as doing this can have financial advantages such as future tax savings.
Another advantage of creating a trust is that it allows the trustee to manage the trust in the unfortunate event of a person becoming incapacitated and unable to manage their property.
Trusts also allow the property to bypass the probate process, thus making the distribution process more smooth and keeping the individual’s information private.
How LPEP Can Help You Plan Your Estate
LPEP specializes in high-asset estate planning in the Bay Area. Proudly serving San Jose and Silicon Valley, our team of reputable attorneys serve to protect your assets. We make it our goal to develop the best plan for your individual priorities, family circumstances, and finances.
If you are still uncertain of what your next steps in estate planning should be, or if you have any further questions, please do not hesitate to set up a free 30-minute consultation with our reputable lawyers.
Parents With Shared Custody Devoting More Time To Childcare During Pandemic
/in Family Law /by Gretchen BogerThe Coronavirus pandemic has upended all of our lives and made choices that were once simple, complicated. With the closing of the public school system in California, parents are facing the challenges of educating and caring for their children at home. While this shift of responsibilities has affected all parents, it makes shared custody arrangements all the more complex.
Many Parents Are Left Without Childcare
Due to the pandemic, parents with joint custody are now dedicating more time than ever towards caring for their children. For parents both working from home and still commuting to their work, there are new nuances that take time to get adjusted to. Many parents with shared custody are realizing that their custodial arrangements may need to be adjusted to accommodate changes in lifestyle related to childcare, education, or even their working situation.
While the stresses of distance learning and social distancing are apparent to children, many people are overlooking the effect that stress has had on parents. Parents with shared custody are facing even more complex decisions regarding childcare. While parents working from home may be able to supervise their children, parents who are still commuting to work are faced with few options. To make matters worse, even a simple task like hiring a babysitter is complicated due to social distance protocols, fear of exposure, and the financial burden it places on parents.
Parents With Shared Custody May Need to Adjust Their Agreements
What used to be routine agreements, such as adhering to pick up and drop off schedules, is now complicated by new childcare arrangements and social distancing protocols. Additionally, many parents are finding themselves unable to be as attentive with their children’s education as they wish or are making sacrifices with their careers. The pandemic has left many parents, especially those with shared custody, wondering how to provide the best support for their children during these stressful times.
With child custody arrangements, impactful life events may require adjusting these agreements on a case to case basis. While it may seem daunting to make changes to a child custody arrangement, it may be necessary in order to create the best living environment for your children and lessen the stress of the pandemic.
Although making changes to a shared custody arrangement may seem more stressful for children, it might make their living situations more healthful in the long run. Whether it is to allow for better supervision, more assistance with schoolwork, accommodate job changes, or even social distancing, modifying your shared custody arrangement to accommodate the pandemic might be in your children’s best interest.
How to Alter Your Shared Custody Agreement
If you are interested in modifying your shared custody agreement, then it is best to contact a family law modification attorney in order to best understand your options. While it is easy to become persuaded by family or friends, legal attorneys can provide you with straightforward advice regarding your custodial arrangement.LPEP is a family law firm in the Bay Area that specializes in complex family law litigation and modification. If you are living in the Bay Area, please don’t hesitate to contact our offices for a free 30-minutes consultation on how we can help you adapt to the stresses caused by Covid-19.
How The Pandemic Is Increasing The Rate of Domestic Abuse
/in Family Law, In the Community /by Mitchell EhrlichDomestic violence (DV) and intimate partner violence (IPV) are deeply ingrained issues in our society that affect millions of people every year. On average, there are 20,000+ calls to domestic abuse helplines nationwide on a daily basis*. Adults aren’t the only victims of these assaults. 1 in 15 children is exposed to intimate partner violence annually**.
With the pandemic in full swing, and mandatory quarantines going into effect in 2020 and now 2021, experts have seen a rise in domestic abuse and IPV. In March, when the first stay-at-home orders were put into place, victims of IPV and DV were forced to stay at home with their abusers. While we’ve all been facing our own struggles these past 10 months, victims of abuse have been living in a state of perpetual fear and unsafety. Not only have they been facing the stress of potentially catching a fatal virus, but they have also been dealing with daily abuse from partners, family members, or other close relationships that they share a home with.
What is Considered Domestic Abuse?
Domestic abuse and IPV, while similar, are two different things. Intimate partner violence is violence at the hands of a romantic partner/ significant other. Domestic violence has a broader definition. DV can be at the hands of anyone in the household – family members, partners, friends, even children.
Domestic abuse can take many forms. It can be physical, mental, emotional, or sexual. It can include sexual assault, stalking, threats, verbal abuse, physical violence, and more.
How is the Pandemic Worsening Domestic Abuse?
Domestic abuse affects communities for a myriad of reasons. It commonly affects lower-income communities the most. Lower-income communities experience more everyday stressors than those who have financial security, especially during the pandemic.
Many low-income parents are essential workers. They are exposed to the virus at a higher rate due to their jobs, and being essential means that they can’t be home to care for their children who are now out of school due to Covid-19. Lack of childcare and financial instability can add tension to an already overwhelmed household.
In many cases, victims of IVP depend on their abuser for income and living arrangements. Abusers often make it difficult for their partners to hold a job or have any independent source of income. This is so they can keep their partner dependent and thus trapped in the abusive situation. It is a power play. For victims who are not allowed to have a job, and thus are stuck at home all day caring for the house and children, they are also vulnerable to more frequent attacks from a partner and violence becomes more frequent. Because they do not have their own income, they are unable to afford to leave the dangerous situation.
At home, learning is stressful for parents and children alike. Now that kids are forced to get an education from home, discrepancies in opportunities have become more visible. Many lower-income families do not have a stable internet connection and many don’t have internet at all. It’s not uncommon for lower-income families to not even own a computer for their children to use. With public libraries closed and schools closed, this creates a disadvantage for those children.
The stressors from lack of childcare and the difficulty of virtual & remote education have led to an increase in domestic child abuse.
How To Get Help
If you or a loved one is trapped in a home where domestic abuse is occurring, you need to reach out to local shelters and helplines. Setting up a safety plan during quarantine is key for escaping the dangers of your home situation. It’s hard to take steps towards leaving abusive partners because we often love them very much. But abuse is never acceptable no matter how much you love your abuser and no one ever deserves to be abused no matter what your abuser tells you.
If you live in San Jose or Santa Clara and want to take legal action, set up a free consultation with our domestic violence attorneys. We are discreet and compassionate. Our attorneys can help you set up a restraining order or can help you gain custody of your children if they are experiencing violence from someone in your household. You can contact us here to set up a consultation or to learn more about domestic abuse, read this.
What’s the Difference Between An Annulment And A Divorce?
/in Family Law /by Riley PenningtonRelationships are complicated, which explains why so many people are afraid of marriage. It’s a big decision and it can be difficult if one party decides they want out of the marriage. If you did enter into a marriage, and you or your partner have realized you want out, you have options. There’s divorce, annulment, and in some cases, legal separation. But what’s the difference between an annulment and a divorce? How do you know which is right for you and your spouse?
What’s An Annulment?
Many people recognize the term annulment from silly sitcoms about last-minute Las Vegas weddings that the co-stars don’t remember the next morning. In reality, annulments are a very useful, very valid tool that serves a much more serious purpose. An annulment doesn’t just end a marriage, it completely nullifies it. If you get an annulment, it cancels a marriage out and acts as though the marriage never happened or existed. It allows for both parties to remarry post annulment. It’s a clean slate.
Not everyone can get an annulment, however. There are rules that dictate which couples are eligible. For example, if one spouse lies or withholds information from their spouse upon marriage, the other spouse can file for an annulment based on misrepresentation. Some other reasons for an annulment include:
You can get help understanding these rules and stipulations by hiring an experienced annulment attorney. It can be hard to navigate an annulment on your own, so, having an expert can be beneficial.
What’s A Divorce?
A divorce is a legal dissolution of a marriage. It goes a step further than legal separation and has stricter requirements. In California, parties must have lived in the state for at least 6 months before they can get a divorce. Couples can choose legal separation over divorce.
Like an annulment, ex-spouses can remarry after a divorce. However, unlike an annulment, the divorce isn’t wiped from the record. A divorce means the marriage still existed and you must go through the procedures of dividing up property and assets and determining alimony and child support payments. California is a no-fault divorce state, which means that neither spouse is blamed for the end of the marriage. This usually follows with assets being divided 50/50. Spouses may need to obtain legal representation to help ensure the assets are divided equitably rather than equally.
If you have questions about whether or not you are eligible for an annulment or a divorce, or are still curious what’s the difference between an annulment and a divorce, contact an experienced annulment attorney. Lonich Patton Ehrlich Policastri has over 100 collective years of experience in family law. Set up a free 30-minute consultation here to find out if you and your spouse are eligible for an annulment.
How is Property Divided in a Divorce?
/in Family Law /by Virginia LivelyGoing through a divorce is devastating, and the headache of trying to understand the intricacies of divorce law and how it applies to your specific circumstances can be a nightmare. If you find yourself wondering, “How is property divided in a divorce?” then you are not alone.
The first piece of advice for people facing a divorce settlement is to research your specific state law or reach out to an asset division lawyer who can help you understand how family law property division is settled in your state.
How is Property Divided in a Divorce in California
The state of California practices the principle of “community property” during divorce proceedings. This means that all property accumulated by the spouses during the marriage is considered community property, and thus must be divided relatively equally between the spouses.
While some spouses are able to negotiate the division of property without the help of an asset division lawyer, property divisions are not considered legal without the approval of a judge who needs to validate the legality of the final separation agreement.
Unfortunately, divorce can bring forth hostility even after previously happy marriages. Often couples find that they cannot agree on how to separate their assets, and require the help of lawyers who specialize in family law property division. Both sides will present their case, and a judge will determine a division of property that is fair and relatively equitable. Cases in which the spouses have children together, tend to further complicate the divorce as determining a child custody arrangement can be a contentious issue.
Joint Property Versus Separate Property
During divorce litigation, a judge will need to determine which assets are joint property (community property) and which property is considered separate. Separate property includes:
Shared property may become joint property if both spouses share payments on the property, as in a house, or if both spouses contribute to the worth of a property, as in a bank account. Nuances like these make an asset division lawyer highly recommended in high-asset divorce proceedings.
Determining the Value of Property
Once the shared and joint property are differentiated, the division property process begins. Joint property is not always physically split down the middle but is often awarded as whole parts. For example, while one spouse may be able to keep the more expensive car, the other may be granted the higher checking account or an equalization payment.
Debt Ownership
Community debt is a complex issue beyond the sample of this blog, however, it is highly advised to assign debts to one spouse instead of sharing the ownership of the debt. This is to prevent one person’s credit from being negatively affected if the other is unable to make payments. Divorce litigators often offset an imbalance of property division by granting the debt ownership to the spouse who was granted more personal property. While one spouse may receive the higher checking account that same spouse may also have to assume the sole responsibility of paying off the credit card debt.
Family Law Property Division in San Jose
If you are facing a contentious divorce, it is vital to invest in an asset division lawyer to help you protect your personal property and ensure that you are not being taken advantage of. LPEP is a reputable high-asset family law firm that specializes in representing high-net-worth individuals. Schedule a 30-minute consultation today so that you may understand how we can help you. To learn more about property division, read this.