Pennsylvania residents may have seen headlines talking about the increased risk of divorce for those over the age of 50. However, it is important to note that the risk of a divorce is not the same for every person in that demographic. For instance, older couples who have a relatively high income or those who own property together are less likely to get a divorce.
How repealing the estate tax may change some estate plans
Pennsylvania residents who have created an estate plan with a strategy for reducing estate tax might want to review that plan with an eye to how they might change it if the estate tax is repealed. While it is not yet known what might happen to the estate tax, making a plan now would mean that it is easier to make quick changes if necessary.
Divorce for older couples can be financially complex
If you and your spouse are over the age of 50 and considering divorce, you are part of a growing trend. You may start out having an amicable divorce, but financial issues, for well-heeled older couples in particular, may bring up some problems you were not expecting to confront.
What to do if a parent is abusing drugs or alcohol
Some divorced parents might be worried about the other parent's use of alcohol or drugs and its effect on their children. There are steps Pennsylvania parents in this position or those who are going through a divorce with similar worries can take to help protect their children.
Duties of executors
Pennsylvania residents who are chosen as an executor under a decedent's will are required to act in a fiduciary capacity. They should be aware of their duties and must take several steps to distribute the assets in the manner dictated by the testator.
