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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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New York Times Article Urges Aging Parents to Talk to Adult Children About the Potential Need for Financial Supervision
/in Estate Planning /by Michael LonichThe New York Times published an interesting article advising aging parents to keep the lines of communication open with responsible, adult children. The article points out that while it is extremely difficult for elderly parents struggling with memory loss or the onset of dementia to give up autonomy, it is important that responsible children step in to help care for their parent’s financial responsibilities.
While initiating a conversation about your parent’s possible future need for financial supervision is a challenge, the New York Times author suggests opening the dialogue in the doctor’s office. Your family physician may be a supportive moderator of the conversation as he or she is likely aware of the dynamics of the situation. For the full New York Times article, please click here.
In addition to talking with your parents about financial supervision, it is highly recommended that aging parents update their necessary legal documents. If your parents are in good mental health now, it is recommended that they start thinking about who would be a good person to appoint as a power of attorney. A power of attorney is an individual chosen to represent someone in relation to health care and property matters. The power of attorney can act to make important decisions for the individual they are representing when that individual is unable to make those decisions for him or herself. When selecting someone to act as a power of attorney, a person should make sure the chosen representative is responsible, loyal, and consents to acting in this capacity.
If you are interested in learning more about a power of attorney, please contact San Jose estate planning lawyers at Lonich Patton Erlich Policastri for more information. Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results. While this post may include legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.
Should You Leave a Gift to Your Pet in Your Will or Provide For Your Companion Animal Through a Trust?
/in Estate Planning /by Michael LonichAn outright gift to an animal is void under the ruling of Estate of Russell. In that particular case, the testator left a gift to her dog, Roxy Russell, via her will. The court ruled that a dog could not be a beneficiary of a will under the California Probate Code. However, this ruling does not preclude an owner from pursuing other options that will ensure the pet is well taken care of after its owner’s death.
First, an owner can set up a trust to care for his or her beloved animal. In 1991, the California legislature enacted a probate code provision that allows individuals to create trusts for the care of a “designated domestic or pet animal.” However, the problem with the 1991 version of this code section was that a beneficiary could not take action against a trustee who failed to administer the trust according to its terms. The legislature addressed this problem by enacting a new version of the code section in 2009. Currently, any trustee or beneficiary of the trust, person interested in the animal’s welfare, or a nonprofit animal welfare organization, may petition the court regarding the affairs of the trust.
The use of a trust to care for an animal has several benefits. It is a flexible method for managing financial assets for the benefit of the pets until the last surviving pet departs. Another benefit is that a living trust can include provisions for pet care that would be operative during an owner’s life-time incapacitation. In addition, the trust provisions can include very specific instructions for the care of companion animals.
If you choose to create a trust, it should provide for the payment of all final medical and disposition expenses for your pet. In addition, you should nominate a trustworthy caretaker, and alternates, or leave instructions on how to find a suitable home and caretaker for your pet.
Another way in which an owner can provide for a pet after the owner’s death is by choosing to leave the pets (and the money to care for them) as an outright “gift” to a responsible and trustworthy individual. An owner can do this either through a will or a revocable trust. However, before choosing this option, an owner should make sure that the chosen care-taker is willing and able to care for the pets after the owner’s passing.
If you are interested in learning more about how to properly plan out your beloved animal’s care after your passing, please contact the San Jose estate planning lawyers at Lonich Patton Erlich Policastri. Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results. While this post may include legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship
What is “Sole Custody”?
/in Family Law /by Mitchell EhrlichThe term “sole custody” refers to one of California’s several types of child custody arrangements. A parent with “sole custody” may have sole physical custody, sole legal custody, or exclusive custody. Each type of custody arrangement has unique rights that attach to it.
If a parent has sole physical custody, he has exclusive physical custody of the child without having exclusive legal custody. This means that the parent with the sole physical custody has the right to have the child live with him/her, subject to the other parent’s visitation rights (if any). However, a custodial parent who only has sole physical custody is not entitled to make all the important decisions regarding the child.
On the other hand, a parent with sole legal custody is awarded exclusive rights and responsibilities regarding child care decisions relating to health, education, and welfare. However, unless sole physical custody is also granted, the parent does not have sole control over the child’s residence and supervision.
Exclusive custody is a combination of sole legal and sole physical custody. The parent with the exclusive custody has the right to make decisions regarding the child’s residence, health, education, and welfare. The non-custodial parent, however, may retain secondary visitation rights detailed by court order. In addition, an exclusive custody order does not terminate the other parent’s parental rights or due process interest in parenting. The parent without exclusive custody retains the right to seek and obtain custody modification based on a proper showing of changed circumstances.
Please contact our child custody attorneys at Lonich Patton Erlich Policastri for more information. Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results. While this post may include legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.
Federal Tax Implications for Same-Sex Couples’ California Estate Plans
/in Estate Planning /by Michael LonichCalifornia same-sex couples deal with many of the same estate planning issues as opposite-sex couples. However, they also face several unique challenges relating to the federal tax system. Therefore, when developing an effective estate plan for a California same-sex couple, the federal tax system should be considered.
One of the most glaring distinctions between married opposite-sex partners and domestic partners under federal tax law is in relation to the federal marital tax deduction. Domestic partners and same-sex couples legally married in California are not eligible for the unlimited federal marital deduction for property passed outright to a surviving domestic partner or same-sex spouse. Under the federal Internal Revenue Code (IRC), this deduction is only permissible between “spouses.” The IRC defines a “spouse” as an opposite-sex married couple. A qualified California estate planning attorney can advise same-sex couples on transferring assets in a way that minimizes federal taxation.
It is not uncommon for same-sex couples’ estate plans to be challenged by family members. If there is concern that someone will contest the estate plan, it is best for each party to have their own attorney to avoid an invalidation of the estate plan on grounds of duress or conflict of interest. Because of many legal uncertainties in characterizing same-sex couples’ income and tax consequences, California domestic partners are best represented by attorneys who have a strong background in family law as well as estate planning law.
For more information about estate planning, please visit the Lonich Patton Erlich Policastri website. Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results. While this post may include legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.
How Can Business Succession Planning Help You Pass Your Company On to Your Children?
/in Estate Planning /by Michael LonichA business succession plan can help you hand your business over to your family’s next generation by looking at whether or not your company has adequate resources and potential. If your business does not presently have the qualities required to pass on to your children, an attorney can help you investigate whether the necessary resources and potential can be developed.
An estate planning attorney can help you develop a quality business succession plan that meets your needs. Specifically, an estate planning lawyer can help you use instruments such as revocable trusts, irrevocable trusts, and charitable trusts to own and control the equity interests of your business. In addition, your attorney can help you minimize the impact of local, state, and federal taxes on business and estate planning transactions to conserve the assets of the company.
For more information on developing a successful plan to pass on your business after your death, please visit the Lonich Patton Erlich Policastri website. Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results. While this post may include legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.