Many people assume that estate plans are only for the wealthy and elderly. In reality, everyone should have an estate plan in place to plan for the future and protect their interests, assets and loved ones. Estate plans are typically composed of a number of documents, including wills, trusts and powers of attorney. An experienced estate planning lawyer can help you create an estate plan tailored to your particular circumstances and wishes.
3 common estate planning myths
Prenuptial agreements do more than just property division
It is common for Pennsylvania couples on the cusp of marriage to make plans. Some may spend hours discussing where they will live, where they will work and how many children they will have. The thought of using a prenuptial agreement as part of that planning process is practically blasphemous to some couples in love. People with preconceived notions of prenuptial agreements may believe they are simply an anticipation of divorce and property division. While the prenuptial agreement has gotten a bad reputation, many may not realize the benefits one can bring to a couple getting married.
Johnny Depp's high asset divorce lesson for Pennsylvania couples
It seems like celebrities never learn. Year after year people in Pennsylvania read about one superstar after another getting married only to enter a bitter divorce a short time later with no prenuptial agreement in sight. Currently, actor Johnny Depp is facing a high asset divorce from which he stands to lose millions of dollars because he did not insist on a prenuptial agreement.
Pennsylvania parents owing child support may feel helpless
Nonpayment of child maintenance can have severe consequences in Pennsylvania. A parent who falls behind in child support may have his or her driver's license and passport suspended, property seized and credit report damaged. Additionally, a non-paying parent may end up in jail, complicating matters even more. A recent report showed that in the U.S., over five million people owed child support, and almost 700,000 of them were in jail.
Pennsylvania dad fights for fathers' rights
In June, families in Pennsylvania and across the country celebrate Fathers' Day, remembering the men in their lives who raised and supported them, even if they weren't biologically related. For some men, however, Fathers' Day is a painful time of separation from their children. A few of these men have taken their fight for fathers' rights to court.
Child support must not be evaded in Pennsylvania
Providing for one's children financially after a divorce is not something to take lightly. The amount of child support determined to be paid is carefully calculated to match the needs of the child. Pennsylvania parents paying support for a child or children must make every effort to pay on time, or they should contact an attorney who can help them if financial challenges make it difficult to meet the responsibilities.
Property division gives options to Pennsylvania couples
Getting a divorce means moving on, sometimes quite literally. While discussing property division, couples will inevitably come around to the question of what to do with the house. Divorce may already be fraught with emotion, and if one is emotionally attached to a home, letting go of it may be difficult. Couples who are ending their marriages in Pennsylvania may wish to consider their options.
