California Archives - Page 2 of 2 - Lonich Patton Ehrlich Policastri

Retirement Benefits: I Earned Them So They Are Mine, Right?

February 7, 2013/in Family Law /by Gretchen Boger

When parties consider divorce or separation they are rightfully concerned about their property. For example, parties may contemplate who will get the house, the dog, the cars, or even the family’s prized Dyson vacuum cleaner. But what about retirement benefits? They don’t typically rank at the top of the “coveted marital property” list, but maybe they should. If you have worked for an organization for most of your adult life, you and your spouse may be entitled to substantial benefits.

Under the California Family Code, retirement benefits are divisible community property assets and will be affected by divorce, legal separation, or termination of domestic partnership. Even if the party that earned the benefits has not yet retired and has no immediate plans to retire, all retirement benefits accrued during a marriage or domestic partnership are fair game when the parties decide to part ways. In fact, the non-earning spouse is generally entitled to fifty percent of any retirement assets accumulated during the marriage.

Division of retirement benefits can be complicated and may implicate complex tax issues. The Lonich Patton Erlich Policastri team, which includes several certified Family Law Specialists who are certified by the State Bar of California Board of Legal Specialization, offer decades of experience handling complex family law matters. If you are contemplating divorce, legal separation, or termination of a domestic partnership or have been served in an action for divorce, legal separation, or termination of a domestic partnership, please contact Lonich Patton Erlich Policastri for further 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 detail general legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.

Estate of Thomas Kinkade: The Handwritten Wills

June 21, 2012/in Estate Planning /by Michael Lonich

First, the cause of death. Then, the arbitration clause. Now, the mysterious handwritten wills. The unraveling of Thomas Kinkade’s estate has been like a daytime drama, with his wife of 30 years and his girlfriend of 18 months pitched against each other.

The “Painter of Light” apparently kept his family in the dark about two handwritten wills. The wills bequeath girlfriend Amy Pinto-Walsh a Monte Sereno home and $10 million cash “for her security” or to establish a Thomas Kinkade museum.* A hearing will be held in court to determine the validity of these handwritten wills, a.k.a. holographic wills. The following questions will need to be answered by the court, which are applicable to all holographic wills:

Did he write the wills?
Did he sign and date them?
Was he coerced?
Was he of sound mind?

Purported holographic wills include: a tractor fender, a cigarette carton, a bedroom wall, a napkin, a nurse’s petticoat, and an eggshell. Needless to say, this is not the ideal method of creating a legally secure document. The most troubling part about creating a holographic will without legal guidance is that this type of will is more susceptible to being denied probate.

You should to be able to rely on the document that guides the distribution of your estate. The attorneys at Lonich Patton Erlich Policastri have decades of experience handling complex estate planning matters. If you are interested in developing an estate plan or reviewing your current estate plan, contact the experienced estate planning attorneys at Lonich Patton Erlich Policastri for further 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 detail general legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.

* The second will appears to modify the first will. See copy of “wills” with translations here: http://bit.ly/NbaLty.

From Bonds to Zuckerberg: The Importance of a Prenup in the Silicon Valley

May 29, 2012/in Family Law /by Mitchell Ehrlich

Will Mark Zuckerberg join the list of billionaires who tied the knot without prenuptial agreements?

Mark Zuckerberg is making national headlines for his marriage that took place on May 19, 2012, just one day after the initial public offering of Facebook. The mystery remains: do Zuckerberg and Priscilla Chan have a prenup? All are in agreement that Zuckerberg would be better off with a prenup. Chan reportedly asked Zuckerberg to sign a relationship agreement before she moved to California several years ago to be with him, which outlined, for example, how much time they should spend together. It would not be surprising if she brought up the subject of a prenup first. However, celebrities such as Paul McCartney, Katy Perry and Mel Gibson chose to forgo a prenup. It’s easy to get caught up in the romance of a marriage, but it’s important to mix in a little realism.

California is a community property state, meaning that assets are typically divided 50-50 upon divorce. If Zuckerberg and Chan signed a prenuptial agreement, they would have agreed exactly how to split assets, including his Facebook stock, if their marriage dissolved in the future. The resounding principle behind prenuptial agreements is spouses themselves can determine how their property will be classified; they can agree that what would generally be classified as community will be separate property of one or the other, and conversely, they can change separate property to community property.

The current trends toward delayed marriage, cohabitation, rising divorce and remarriage rates have combined to create a new awareness of the seriousness of the marital contract and the far-reaching consequences that contract, once made, can have on individual lives. Lonich Patton Erlich Policastri can assist you in understanding your legal rights, and help you protect your family.

The Certified Family Law Specialists* at Lonich Patton Erlich Policastri have decades of experience handling complex family law matters. If you are interested in learning more about prenuptial or antenuptial agreements, contact the Certified Family Law Specialists* at Lonich Patton Erlich Policastri for further 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 detail general legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.

*Certified Family Law Specialist, The State Bar of California Board of Legal Specialization

Can You Remarry Before Your Divorce is Final?

February 4, 2011/in Family Law /by Mitchell Ehrlich

In short, the answer is “no.” Under California law, an individual who is legally married cannot enter into another legal marriage before terminating the first marriage. Recent news of Kelsey Grammer’s approaching marriage to Kayte Walsh has brought this issue to light. Grammer, although planning his February wedding to Walsh, is not yet divorced from his current wife, Camille Grammer.

California couples in similar situations might want to consider reading up on California’s “status only” judgment. A “status only” divorce, or bifurcation, is a legal proceeding where a couple’s marital status is terminated before other divorce issues, such as property characterization and division, are settled. Upon one party’s motion, the court can sever the issue of dissolution of marital status, and expressly reserve the right to later determine all of the other pending issues. Thus, after bifurcation, the individuals are considered legally “single” and are free to remarry. However, the court retains jurisdiction to settle all of the other remaining issues.

For more information on how to best proceed with your California divorce, please contact us. 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.

Source:

The Huffington Post

Unmarried Couples Living Together May Need a Cohabitation Agreement to Implement an Effective Estate Plan

February 2, 2011/in Estate Planning /by Michael Lonich

Cohabiting unmarried couples, who are not registered domestic partners, may be left financially vulnerable if they do not have an enforceable estate plan in place. A “cohabitation agreement” can help unmarried couples effectively plan for the distribution of their property upon death. A cohabitation agreement is a formal contract entered into by both of the cohabiting parties. Specifically, a cohabitation agreement addresses issues relating to rights and ownership of assets, support and maintenance, and division of property upon the dissolution of the relationship or death of one of the parties. These agreements are usually enforceable unless they are explicitly founded on meretricious sexual services.

The division of the couple’s assets at death is governed by California contract law and not community property law. This means that property acquired during the relationship of non-married couples is not considered “community property.” Therefore, upon the death of one party, the surviving partner is not necessarily guaranteed a portion of the assets the couple acquired during their relationship. Moreover, because California community property law does not apply in this situation, the names on the title of property often determine how assets are divided upon the death of one of the partners. A cohabitation agreement serves to ensure that both parties’ wishes are honored upon their passing.

For more information on cohabitation agreements or how to protect your partner after you pass, please talk to Silicon Valley estate planning attorneys 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.

How You Can Get the Child Support Money You Need

January 28, 2011/in Family Law /by Mitchell Ehrlich

If you are a Bay Area resident who is shouldering the financial responsibility of your child alone, you may be interested in learning more about the details of California’s child support system.

Child support is a certain sum of money that the court orders one parent to pay the other parent. When a California court is calculating the amount of child support one parent should pay the other, it looks at several key factors. These factors include how much the parents earn (or can earn), the other parent’s income, the number of children the couple has together, how much time the parents spend with their children, health insurance expenses, daycare costs, and other things.

The child support money is intended to be used to financially support the couple’s child(ren). Child support is typically paid to care for minor children (children under 18) who are living at home and unable to support themselves. However, parents can agree to support children longer than the age of majority. In addition, a court may order continued child support for a child over 18 who is disabled and unable to care for themselves.

For more information about child support, please contact 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.

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