When to Update Your Estate Planning Documents
In addition to the list above, everyone should have all their estate documents reviewed before the age of 70 if you have an IRA or 401(k) that requires you to begin taking distributions at the age of 70 ½.
Children often feel like they’re caught in the crossfire when their parents get a divorce. It’s essential that both parents work hard to keep their children’s routines consistent and as free from the conflict of divorce as possible.
In custody cases, the court prioritizes the child's best interests and often orders mediation for parental agreements. Terms like joint and sole custody are common but don't imply losing parental rights. Sole custody means one parent has more parenting time and decision-making responsibility. Joint legal custody involves shared day-to-day decisions, and shared physical custody means near equal parenting time. Parenting arrangements are flexible, but child support is determined by a formula based on income and parenting time.
The parent with less time usually pays child support. Disputes may lead to a court-ordered custody evaluation by a social worker who recommends arrangements in the child's best interest. Using children as pawns or speaking negatively about the other parent is strongly disapproved by custody evaluators and judges.