When people are planning their trusts and estates, they should fully understand the duties a selected trustee will have when they are deciding whom to choose. When a trustee accepts the job of administering estate, he or she will be taking on several important duties. A good trustee should be someone who is trustworthy and organized so that he or she may appropriately complete all that is expected.
When one parent in a divorce or separation gains sole legal custody of the child, the noncustodial parent is usually granted visitation rights. However, Pennsylvania readers may be unaware that there are many different types of visitation orders, each with their own benefits and drawbacks. The type of visitation implemented in a given situation usually depends on how matters stand between the custodial parent, the noncustodial parent and the child.
As a person's health changes or as he or she gets older, there is often a greater need for an individual to exert control over their belongings. One of the primary methods that Pennsylvania individuals can have the sense of control that they long for is to establish it through estate planning.
According to the Internal Revenue Code, a charitable trust is treated as a private foundation and as such is not tax exempt in the way that many public charities are. However, various taxes such as capital gains tax or estate taxes are not levied upon charitable trusts. This makes it ideal for estate planning for an individual who wishes to leave an income-generating asset or assets to charity.
A child support order in Pennsylvania can sometimes be modified or canceled due to a change in the income or circumstances of one of the child's parents. In order to lead to a cancellation or modification of the child support order, the change that took place would have had to be substantial according to the trier of fact.
As many divorced couples in Pennsylvania might corroborate, one of the most contentious issues during a divorce is property division. In large part, that is because assets include not only present financial assets and real property but also retirement accounts, digital accounts and even some unexpected things like pets. It is important to consider each of these areas while dissolving a marriage so that your property rights are protected.
As many Pennsylvania residents may know, trusts may be established to transfer assets to a beneficiary without going through probate. There are two main types of trust depending on whether the trust can be altered once it is formed. A bank account may be considered a Totten trust in that a beneficiary is identified, and the assets are marked to transfer to that person upon the depositor's death.
In the event that a parent who lives in the state of Pennsylvania does not pay child support, there are consequences that the parent could face. An attempt by the child support case worker to collect the money owed will be made first. A letter can be sent to the home of the parent or the place of employment in order to collect money for the child.