During our lives, we are there for our children whenever they need us. It is our job to guide them and exert control when necessary. We teach them life lessons. We give them advice when they are making a big decision. We give them emotional support during a difficult experience. Yes, we even give them financial help in some situations. What happens when we are gone?
Many Pennsylvania couples cannot wait to begin making purchases together as newlyweds. Buying a house, furniture and vehicles are often common purchases made by couples. Unfortunately, when couples decide to divorce, marital property division can become a tense issue when it comes to dividing items. There may also be confusion as what to constitutes as one party's voluntarily disowning a piece of property. Because divorce processes can be confusing, it is important that information is gained from the right sources.
Back child support can not only be a frustrating issue for the person who should be receiving the payments but also for the person who owes. If child support payments are not made or for some extenuating circumstance cannot be made, the non-paying party could face serious legal consequences. This situation could leave a parent fearful about seeking help for their predicament. One Pennsylvania county is offering a deal that may help some in this situation.
The truth is that in many cases the administration of an estate can leave some actual or even expectant beneficiaries dissatisfied with their inheritance. Some beneficiaries may think that their inheritance is too small, someone else's was too large or that the gifts made in the will simply don't make sense.
We recently wrote about life insurance policies in our Pennsylvania Probate and Estate Blog. Warnings were given in relation to beneficiary designations and the possibility of unintended consequences. For instance, naming a minor child could cause problems because insurance company policy often prohibits direct distribution to minors.
When it comes to divorce, there are many decisions that need to be made and solutions that need to be found for many issues. When there are children involved, there are added issues such as child custody and child support. The parents who are awarded custody of their children often rely on child support payments from the noncustodial parent in order to pay for their children's needs. When parents do not make these payments, it can lead to hardships for the children and, as with the case of one woman living in Pennsylvania, arrest for the parent accused of failing to make payments.
Warren Buffett has made it clear that his frugal nature has helped contribute to his extreme level of wealth. It is often a surprise to learn that despite his billions, he still lives in a house that he purchased years ago for somewhere around $30,000.