Preparing for a Texas Divorce: Assets
Going through a Divorce is painful no matter what the circumstances are. Before you get into the Texas Divorce Process, reduce expense, stress and conflict by making sure you are financially prepared. Planning ahead helps you in making sound decisions, start preparing for post-divorce life, and avoid many post-divorce pitfalls. Below is a list of items you need to gather before counseling with an attorney. Financial Documents are a must to show what your true assets and liabilities are in your marriage.
We have included many assets that you may or may not have. This is only a financial checklist of multiple assets for your review so you will not miss an important asset that needs to be reported.
1. Tax Returns (at least three years) or Tax Liens and all IRS related documents
2. Wills and Trusts with all attachments reflecting corpus and trust holdings
3. Listing of all liabilities (including mortgages, credit card debt, personal loans, automobile loans, etc.):
—Name of entity, address and telephone number
—Property securing payment (if any)
—Most current statements and account status of lenders
4. A Listing of all Real Property, address and location, including (includes time-shares and vacation properties):
–Deeds of Trust
—Notes including equity loans and second liens
—Mortgage Companies and Loan Servicers (Name, Address, Telephone Number, Account —Number, Balance of Note, Monthly Payments)
—Current fair market value
5. Motor Vehicles (including mobile homes, boats, trailers, motorcycles, recreational vehicles; exclude company owned):
—Name on title
—Fair Market Value
—Name of creditor (if any), address and telephone
—Persons listed on debt
—Balance of any loan and monthly payment
—Net Equity in vehicle
6. Cash and accounts with financial institutions (checking, savings, commercial bank accounts, credit union funds, IRA’s, CD’s, 401K’s, pension plans and any other form of retirement accounts):
—Name of institution, address and telephone number
—Amount in institution on date of marriage
—Amount in institution currently
—Names on Account
—Company loans and documents related to benefits
7. A listing of separate property (property owned prior to marriage, family heirlooms, property gifted, inherited property):
—Records that trace your separate property. These assets will remain yours if properly documented
8. Retirement & Pension Benefits:
—Exact name of plan
—Address of plan administrator
—Starting date of contributions
—Amount currently in account
—Balance of any loan against plan
9. Publicly traded stock, bonds and other securities (including securities not in a brokerage, mutual fund, or retirement account):
—Number of shares
—Type of securities
—In possession of
—Name of exchange which listed
—Pledged as collateral?
—Current market value
—If stock (date option granted, number of shares and value per share)
—Stock options plans and related documents
10. Insurance and Annuities Policies and Inventory:
—Name of insurance company
—Type of insurance (whole/term/universal)
—Amount of monthly premiums
—Date of Issue
—Cash surrender value
—Current surrender value
—Other policies and amendments
11. Closely held business interests:
—Name of business
—Type of business
—% of ownership
—Number of shares owned if applicable
–Value of shares
—Balance of accounts receivables
—Cash flow reports
—Balance of liabilities
—List of company assets
—Possible hobbies or side businesses that generate income
12. Mineral Interests (include any property in which you own the mineral estate, separate and apart from the surface estate, such as oil and gas leases; also include royalty interests, working interests, and producing and non-producing oil and gas wells:
—Name of mineral interest
—Type of interest
—County of location
—Name of producer/operator
—Current market value
—needs leases or production documents related to the asset
13. Money owed by spouse (including any expected federal or state income tax refund but not including receivables connected with any business)
14. Household furniture, furnishings and Fixtures
—purchase receipts and documents
15. Electronics and computers including software and hard drive
16. Antiques, artwork and collectibles (including works of art, paintings, tapestry, rugs, crystal, coin or stamp collections) Other large collections need to be appraised! (Guns, quilts, action figures, books)
17. Miscellaneous sporting goods and firearms
18. Jewelry including appraisals
19. Animals and livestock
20. Farming equipment
21. Club Memberships
22. Safe deposit box items
23. Burial plots including documents of ownership
24. Items in any storage facility
25. Travel Awards Benefits (including frequent flyer miles)
Father’s Access and Possession of Their Children: A Father’s Absence can be Disastrous to his Children’s Lives
There is now a discernible shift in the United States concerning Fathers Rights. A new legal awareness in many state family courts is leaning towards both parents need to be involved in raising a normal loving child. Mom and Dad may not be able to live as a couple, but the child deserves to have both parents in his/her life. Many legal professionals in the United States are working on changing old antiquated strict ideas on the parental foundation structure of the family. Ideas on raising children, even in a broken family, need to include both Dad and Mom.
According to the National Center for Fathering, “More than 20 million children live in a home without the physical presence of a father. Millions more have dads who are physically present, but emotionally absent. If it were classified as a disease, fatherlessness would be an epidemic worthy of attention as a national emergency.”
“Psychology Today” researchers have found this statement to be true. The results of father absence in their children’s lives can be disastrous. Specific behavior for many of these children are:
- Children’s diminished self-concept, and compromised physical and emotional security
- Behavioral problems (fatherless children have more difficulties with social adjustment, and are more likely to report problems with friendships, and manifest behavior problems)
- Truancy and poor academic performance (71% of high school dropouts are fatherless; fatherless children have more trouble academically, scoring poorly on tests of reading, mathematics, and thinking skills.
- Delinquency and youth crime, including violent crime (85% of youth in prison have an absent father; fatherless children are more likely to offend and go to jail as adults)
- Promiscuity and teen pregnancy
- Drug and alcohol abuse
- Homelessness (90% of runaway children have an absent father)
- Exploitation, A, and emotional maltreatment
- Physical health problems and Mental health disorders
- Life chances and future relationships
- Mortality (fatherless children are more likely to die as children, and live an average of four years less over the lifespan)
“When fathers are actively involved with their children, children do better, states Dr. Paul Amato, noted parent-child relationship sociologist at Pennsylvania State University. “Research suggests that fathers are very important for a child’s development”. The “Fathers Effect” is the term for the benefits of the paternal presence. These effects are numerous when fathers actively participate in family life. Minimum time must be spent together, but quality of time is more important than quantity of time”.
Fatherhood trends in America are changing! With the increase in the number of mothers who have now entered the job market, more fathers have started taking a more active role in caring for their children as single fathers are significantly growing in numbers. Pew Research has come out with new facts on American Dads and here are their key findings:
- More dads are staying home to care for their children
- 57% of fathers see parenting as central to their identity with 54% find parenting rewarding all the time.
- Work-family balance is a challenge to balance work and family life. 52% of working dads say it is very or somewhat difficult to do so.
- 74% of men face major pressure to support their families financially, while 49% face pressure to be involved parents.
- It has become less common for dads to be the family’s sole breadwinner.
- Fathers are much more involved in childcare. But in caregiving mothers are still view as the primary parent.
- 63% of fathers still feel they spend too little time with their children usually because of work obligations.
In the future it may be possible for 50/50 joint custody and co-parenting with both parents to be the legal presumption and the norm for presumed access and possession of Divorce or Mediation Orders. Divorce is never blameless, but raising a child is where parents must raise above their personal feelings and think of what is best for the child.
Nacol Law Firm P.C.
Fathers Rights Attorneys
You are finally divorced from your Narcissistic Spouse! Now you are embarking on your new family situation with your Narcissist Ex: Co- Parenting! You are probably wondering how you became the lucky person who gets to experience this mind-altering situation along with other people you love the most: your children!
Let’s review what is Narcissistic Personality Disorder or ‘NPD”? It is a mental disorder where the person has a very transparent and superficial inflated self-esteem and neurotic needs for admiration and special treatment from other people. Typical arrogant behavior and lack of empathy for other people causes many problems in all emotional areas of their lives and relationships. Narcissists are usually very aggressive with impulsive tendencies, dangerous lifestyles involving cockiness, selfishness, manipulation and power motives. These individuals may appear as very exciting personalities at first meeting, but at the end of the day are unfulfilling and destructive. This false sense of entitlement produces a feeling that causes them to punish those who do not provide their required respect, admiration, or attention.
One of the biggest personal disappointments in Co-Parenting with your Narcissistic Ex is that often you are as unsuccessful as you were in marriage with the ex-spouse.
Children cannot and do not offer the continuous positive feedback narcissist parents crave and the parent will often react in one of two ways. W. Keith Campbell, an expert on narcissism and professor of psychology at The University of Georgia, offers that “some lose interest in their children entirely and look for other sources of validation”. “Others view their children as a reflection of themselves and become hyper-involved and controlling. Disconnection is the key, even an overly narcissistic parent is emotionally detached and lacks warmth.”
Eminent psychologist E. Mavis Hetherington In her landmark book, For Better or For Worse, highlights the results of her study of 1,400 families and the importance of examining the type of conflict children experience. She notes high conflict that involves the child is physically violence, threatening or abusive conduct and conflict in which the child feels caught in the middle, causing the most adverse consequences for children. These effects include anxiety, depression, and low self-esteem.
Some Strategies when dealing with Co-Parenting with your Narcissist Ex
- Limit your contact with your Ex. Contact should only involve information or issues concerning your children. Email or Text as much as possible. When you have the child, make the rule, “Unless an emergency, no contact will be made verbally until the child goes with the other parent. Try not to talk directly to the other parent when the children are present.
- Don’t Respond immediately or to everything (Hold that trigger response when children are present!) Also commit to a 24-hour turn around on all communications to and from your Ex!
- Make sure that you have a structured parenting plan in place that is very specific concerning schedules of visitation, holidays and vacations to help to minimize conflict. Also, if necessary, secure the help of professional counselors, lawyers, or therapists who can help the children and yourself to cope with the Narcissist Parent.
- Control your behavior and your triggers! Your ex-spouse knows you very well and knows how to press a trigger to make you look like the “Crazy “parent. This situation was continuous during the marriage and has continued in your Co-Parenting period. You are the adult and your children are watching your behavior concerning how they react to their other parent.
- Be the PARENTAL ROLE MODEL for your children. Show your children through your actions that you only have their best interest as your top priority. Control your behavior toward your narcissist ex and never bad mouth the other parent in front of the children.
- Do not tolerate abusive/demeaning behavior from your Ex to either you or your children. You must be the “adult” and protect your children. If your children are afraid to go visit this parent or after a visit, the kids come back with bruises, breaks or a more serious medical problem, get professional help to stop this type of abuse. If you truly feel that this narcissist parent is abusing the child, do not continue to send the child back to this parent. Contact an attorney who can help you to keep your child safe.
- Last by not least do not care what other people think! This is your life and you are the only parent who can control and protect your child against the Narcissist Parent. Life is hard and people are not perfect. When your children grow up and are responsible parents, this will be your award for being there to care and protect them from parental harm.
The Nacol Law Firm P.C.
Divorce is frustrating, confusing, and personally resentful. Divorce is never a pleasant experience even in the most amicable terms. It is important to know what you are in for when a divorce is filed. An original petition will be filed by one of the spouses (the petitioner). Then, the Respondent spouse must be served with papers by a process server unless they will agree to waiver service.
After service of the original petition, the Petitioner may file for a Temporary Restraining Order (“TRO”) to protect the child and marital estate. Once a TRO is granted by the District Judge, a temporary order hearing will be set within 14 days. This temporary order hearing is extremely important and will determine the direction of the case.
Temporary Order hearings are usually condensed to 20 minutes a side depending on the complexities of the case. Within these 20 minutes, you will have to put on evidence for your entire case regarding custody of the children, management of the marital estate, and any other considerations such as receivership of a business.
After the temporary orders hearing, the case will dive into full throttle litigation. Discovery on both sides is usually conducted including interrogatories, admissions, and production of documentation. The documents that are usually requested consists of bank statements, retirement pensions, social media pages, text messages, and emails. Each case requires specific Discovery requests that are narrowly tailored to the facts presented. Discovery can last months and usually follow with motions to compel and sanctions. In highly contested cases the rigors of discovery and compiling documentation can be brutal.
During the Discovery phase, Depositions may be warranted. Depositions consists of your attorney questioning your spouse and any other witnesses that are relevant to the case for impeachment purposes. Depositions are necessary if the case will go to a jury, because impeachment of your spouse is a necessity to prove your truthfulness.
Mediation is often mandatory in Courts, but this is the general rule. Certain Courts in the Dallas, Fort Worth, and Collin county do not require mandatory mediation. Each Court has its own rules of procedure and requirements. If the Mediation fails to produce a settlement between you and your spouse, then the only thing left is a trial.
Depending on the complexities of the case and assets, a trial can last half a day or be a three-day trial. Most trials are before the District Judge. Certain facts may give rise to a jury trial, but a jury trial is more costly and can take up more time. After the trial is complete the parties will have to wait for a ruling. This can take days to months depending on the case and jurisdiction.
When the final ruling is given to all parties, the Judge will charge one party to create a final order that will be submitted to the Court. This can give rise to more litigation depending on the interpretation of the Judge’s rulings by both parties. Finally, when both parties agree to a final order or the Judge determines which version of the final order is proper, then the case will be over.
Divorce can be a painful process that lasts 6 months to three years depending on the circumstances and the nature of the parties involved. If you are about to file for a Divorce in the DFW Metroplex or need help call the Nacol Law Firm, experienced family law attorneys to represent your best interests throughout this painful process.
Nacol Law Firm P.C.
Julian Nacol, Attorney
Summer Visitation and Divorce? Your Sharing Attitude Will Be the Happy Force for your Children and Family!
We are approaching the end of the school year and the beginning of the long Summer Visitation! You have probably received the letter/ email from your EX requesting the setup for the Summer Visitation with the children.
Usually this is not a happy time for the primary care giving parent, but from personal experience, you need a break and letting the children spend some extended time with the other parent will give them a chance to share time and experiences with this parent and make them happy. Remember your children love you and nothing will change that fact!
From practicing family law for a long time now, I believe there are elements in divorce that will never change:
- You cannot make someone love you and stay with you if they choose not to.
- The only person that you can be completely responsible for in behavior is YOURSELF!
- If you choose to have a bad attitude and try to hurt your EX by alienating your children, then not only are you not winning the divorce game, but you are causing serious damage to your Children. Even if you win, you are a loser. The Kids didn’t ask for this Divorce, they are often stuck because Mom and Dad couldn’t be happy together!
After considering these ideas and deciding no, your children were not the case of the divorce, try giving some effort to help make your children happy during Summer Visitation with their other parent and not worry about you.
Here are my “New Divorce No No Rules” that will make the Summer Visitation happier for the entire family including your EX:
- No talking bad about the other spouse! This is your battle, not the kids! The kids are still related to their other parent and love that parent.
- Make this Summer Visitation an adventure for the kids. Mommy and Daddy are not together anymore, but the children should feel that they are going to spend this special time with their other parent without you acting mad or hurt. Never let the kids know that you are unhappy about the Summer separation and may not love them if they are happy! Let the kids look forward to a wonderful summer adventure with their dad or mom and don’t look back!
- Get with your ex-spouse and determine the Summer visitation schedule. Share this schedule with the kids so they will know what is going on and what time will be shared with both parents. Meanness will not be tolerated, be nice!
- Talk with the children on their ideas for the Summer Visitation. Maybe share these ideas with your EX. Remember: this is not about your feelings, it is about the love and needs of your family.
“The more you give in to the love of your family, the better you will feel in your heart.”
You, my friend, will eventually get over this hurt of the Summer separation with the kids and maybe get a little rest yourself. Before you know it, the kids will be back, school will start and your family’s live will go on, but it is always the decisions you make to help your children cope with this family split that will determine your true character as a parent and a person.
Hoping you and your family will have a wonderful Summer and this blog has help to put a smile on your face! —-Mark A. Nacol