As the baby boomers enter their 60s, groups that provide end-of-life care call the coming generation of elders a "silver tsunami." The most quickly expanding age group in Pennsylvania is seniors over 85. And, more than 15 percent of the state's population is now older than 65.
The debate over same-sex marriage continues to be one that many individuals have strong opinions about. However, because the decision on whether to recognize same-sex marriages is still being decided on a state-to-state basis, many couples can face difficulties if they are married in one state then later move to another. Luckily, for those living in Pennsylvania, same-sex marriage and divorce may become less complicated.
Becoming a father can be one of the happiest moments in a Pennsylvania resident’s life. However, if the parent is divorced or was not married, gaining custody of that child may require going through legal proceedings. Though child custody has made strides in garnering toward more gender-equal outcomes, some fathers still feel that there may be bias in the court system.
Although the promise of the "paperless society" has yet to realize its full potential, the rise of web-based services such as cloud computing and online data storage, along with web-based email, banking and investing accounts have become increasingly commonplace. But the convenience of being able to access one’s financial and other information from any place that has data connectivity has also on occasion created problems after a person passes away. Online services, often for privacy reasons, may hesitate or refuse to allow surviving relatives access to the decedent’s accounts.
When the topic of separation is broached between a Pennsylvania couple, one or both parties can feel taken aback by the implications of such an action. While some individuals may feel that they are unable to handle the dissolution of their marriage, there are many decisions that will need to be made in the near future, and focus on those decisions could be paramount. As many individuals feel very strongly about certain assets, giving attention to property division can be prudent.
Estate planning documents suited to your situation such as a will, a revocable trust, durable powers of attorney, guardianships and health care directives are imperative in planning for your family’s future and preventing lengthy and contentious court battles after your death. Estate planning is essential in looking out for loved ones and helping reduce disputes over assets.
For Pennsylvania parents, going through a divorce can bring about significant worries about how their children will be impacted. Child custody issues can cause deep rifts between parents if agreements are not made amicably, and as a result, children may feel stuck in the middle. However, there are steps parents can utilize that can help keep a strong relationship between parents and children.
The purpose of a last will and testament, colloquially known as a will, is generally to name heirs to one’s estate. Preparing for this eventual circumstance through estate planning can feel somewhat morbid, but it is an important act in order to provide peace of mind and the security of knowing where and to whom your assets will go.
Waiting too long to evaluate retirement needs and put an estate plan together can put Pennsylvania residents at risk of financial shocks. A recent study explored the experiences of eight focus groups of retirees to learn more about how they arrived at decisions, how their finances were evaluated prior to retirement and their success in retirement years. The retirees in the focus group were defined as “resource-constrained.”