Do you currently have Photoshop Elements 12 and Premiere Elements 12 or are you thinking about purchasing them?
Please go the tree 30 day tryout route before any purchase to assure that the programs are compatible with your computer environment as well as your project goals.
I am not seeing any problems with Premiere Elements and your goals if you work with the program as a video editor which is.
You might want to read up on generalized techniques related to arranging/adding media to a project.
We can talk about details specific to a given Premiere Elements version when you supply more details.
Please review. If any questions or if you need clarification on anything written, please do not hesitate to ask.
Do not own Premmiere Elements now - inquiring about the features before purchasing. After reviewing the suggested links, it appears that a picture could be overlaid on portions of a video while keeping the video audio track. The free trial period would be helpful. Environment is WIndows 8 with i5 processor.
I have Premiere Elements 12 on Windows 7 and 8.1 64 bit computer (also had it on Windows 8 64 bit). Right now all are working well.
From the description of your circumstances, the free 30 days Premiere Elements 12 tryout from Adobe would be a good idea.