Members of the "baby boomer" generation are notable for their care of their health -- they eat right, work out and strive for long lives. Baby boomers are also getting to the age where estate planning is becoming yet another thing on the endless "to-do" list. Checking in on the estate planning process periodically is an important step, like good diet, because things are constantly changing.
As couples in Pennsylvania move toward divorce, many issues come into play. The process of property division can take a lot of time and effort, and can involve a great deal of negotiation. However, as spouses are deciding who gets to keep Uncle Bill's pipe collection and who is entitled to the family game collection, it is essential to remember to address intangible assets as well.
Spouses in Pennsylvania who fear that their marriage may be headed for divorce should take heed of advice that claims that financial planning is the key to a smooth transition from married to single. By taking the proper steps before divorce papers are even filed, people can help offset the financial strain that comes with property division and a restructured budget following divorce. In addition, going into a divorce with an accurate assessment of the financial outcome can help minimize the stress associated with the process.
In court this week, the lawyers for late artist Thomas Kinkade's former live-in girlfriend claimed that she is unsafe. The house she and Kinkade shared before his death, which she has been renting to the tune of $11,000 a month, was allegedly broken into this week. This break-in is the most recent in a string of vandalism in Amy Pinto's life. Her car and two of her friends' cars have been recently vandalized as well. Her attorneys claim it is not a coincidence.
Child custody cases in Pennsylvania result when parents can no longer raise their child or children in a shared environment. The specifics of each case are unique to the personalities and circumstances of that particular family. There are a wide range of considerations that can come into play, and each family will have their own unique considerations. Family law in most states is written to accommodate these differences, and family court judges are given a great deal of legal leeway in deciding issues of child custody.
Have you wondered about the future of your digital music collection, elibrary and digital copies of your favorite movies? According to a MarketWatch survey, the average American spends $30 per month on ebooks and digital music purchases. Digital estate planning and concerns about digital property are relatively new, but the future of this property is of great interest to many people.
In Pennsylvania, when the property is divided, the custody arrangements are taken care of and the whole divorce is finalized, some divorced parties may feel like they are left on a financial island. Parties that grew accustomed to their ex-spouse handling all the finances may now feel that they have been thrown into a tailspin because they don't know what to do with which account. Budget? Savings? Where to begin?
Last week we listed three essentials for estate planning, emphasizing the need to get the estate in order now -- planning ahead for your family and loved ones, so they will not have to contend with the will or other details in their time of mourning. It can also be a comfort to you, knowing everything is in place.