My family has just witnessed a tragic experience where a young childhood friend had a massive heart attack and died leaving a grieving wife and two small children. No will, but thankfully some life insurance was in place. This young man was an athletic in perfect condition until his fatal heart attack and no warning or planning for what his wife and mother of the two children would be required to do to care for her young family.
It is very important to set up a survival plan for any young family should either Mom or Dad die at an age where the children are still home and in need of support until they finish school or reach maturity.
You and your spouse/partner should discuss a financial plan that would protect your family in case of early death or total disability by either yourself or your spouse. Pregnancy is a good time to put the plan into place.
Here are some basic ideas to consider in a Family Financial Protection Plan:
- THE WILL: The will is the most important item in your Family Financial Protection Plan. By creating a WILL, you MAY ENSURE THAT YOUR ASSETS ARE INHERITED BY THE PEOPLE OF YOUR CHOOSING (YOUR FAMILY) RATHER THAN THE STATE’S IDEA OF WHAT IS PROPER. TO DIE WITHOUT A WILL IS TO DIE “INTESTATE”. This means that the State (Texas) will determine the percentage of property that each family member will inherit after an individual die. The process of administering an estate through probate court can take months or longer once a judge appoints an executor to take over the deceased’s financial affairs. During this time the family may not have access to money left to them to pay the family bills from this estate. BIG PROBLEM!
After having a will for both spouses/partners of the family executed make sure that an original copy is left with your attorney for safekeeping. Very Important! Have another original copy in a secure place where the executor or a family member will be able to retrieve it at the time of your death.
- POWER OF ATTORNEY AND PROXIES: At the time of making out your will, make sure both parents have a Health Care Advance Directive and a Living Will prepared and executed. You need to designate a first and second choice of a person over 18 years of age to be your proxy. Your Living Will is your intentions for end of life care, such as when to have your doctors withhold treatment and let you pass or if you would like to be an organ donor. It is very important that these documents are with your Will and accessible to your proxies, since many times, if there is a serious accident or medical emergency, you or your spouse will not be able to make serious medical decisions regarding your life or death.
- BENEFICIARIES: When you meet someone, marry, or join in a domestic union, it is important that as to any financial accounts you have (bank account, retirement fund, 401K, trust fund, stocks bonds), you should change the beneficiary to your spouse/partner. It is also a good idea to have a second beneficiary, either a child or family trust, in case you and your spouse/partner were both in an accident and die. If your children are young do not make your beneficiary a guardian who promises to take care of your children. Set up a family trust which will support your children and a trusted trustee for the trust.
- Guardianship: Another very important item in your will for parents of minor children under 18 years old is APPOINTING A GUARDIAN IN YOUR WILL FOR RAISING YOUR CHILDREN. There should be a mutual joint decision on who will take care of the children if both you and your spouse/partner are deceased. By setting up this preference in your will, the proceeding judge will usually honor your request when setting up a guardian for your children.
- INSURANCE: Life Insurance may be costly, but it ensures that if you or your spouse/partner dies young, the surviving spouse/partner will be able to have the physical means to allow a slowdown working a job to take care of your young family without financial worries. It is always suggested that you start an insurance policy on both parents when they are young and healthy to keep costs at a manageable amount.
Many companies also offer disability insurance to replace a percentage of salary if an employee becomes incapacitated. Long-Term- Care Insurance is also an option.
Finally make sure that all important financial and personal documents are always kept up to date and located in a secure place where they can be found in case of emergency or death! Some of the most important documents: bank and financial institution accounts, insurance information, credit cards, retirement account with beneficiary information, bills and list of bills on autopay monthly, deed of house, title to cars, boats or etc., and safety deposit key.
*Always have an updated list of online accounts, passwords, and credentials to any cryptocurrency wallets.
Nacol Law Firm PC
In modern times the District Attorney’s office in Dallas, Collin, and Tarrant County have a zero-tolerance policy on domestic violence towards women. Unfortunately, domestic violence occurs much to frequently in our society. Though helpful in certain situations, this Zero-Tolerance policy has the potential to be abused to gain leverage in a Child Custody proceeding.
A mere allegation, is usually sufficient for the District Attorney to file charges against a man, regardless of the proof. If there is an allegation of abuse reported to the dispatcher and a police officer is sent to a home, then one of the spouses will be heading to jail. If the spouse is a father, this can be detrimental in two ways. First, the arrest for Domestic Violence will open the father up to liability when pursing his rights during a custody battle. Second, a false allegation, tactically placed, may open up a second front on a father, forcing him to defend against the District Attorney’s office for a Class A Misdemeanor.
When a father is accused for domestic violence, he will have to explain this false allegation to the District Judge and furthermore if the Zero-Policy dictates that the District Attorney pursues the allegation, then the father will have to defend himself from the State.
The mere allegation of domestic violence has severe repercussions for fathers’ that are currently fighting a custody battle for their children. The best way to deter such behaviour is to:
- Be vigilant at all times and never visit your Ex-Spouse/girlfriend one on one;
- Never enter a situation to which your Ex-Spouse/girlfriend may claim domestic abuse;
- When picking up your child always have a third-party with you (mother, father, or friend) throughout the duration of the custody case;
- Use “family wizard” when communicating with your Ex-Spouse/girlfriend;
- If your Ex-Spouse/girlfriend threatens to make a false allegation write down the date, time, and location;
It is not healthy to be paranoid of your Ex-Spouse/girlfriend if the relationship is not high risk for domestic violence allegations. You should always attempt to co-parent and amicably resolve disputes with your Ex-Spouse/girlfriend for the betterment of the children. Having said that, there are situations and circumstances in which false allegations may be used to leverage one side during a custody suit. If a false allegation is filed with the District Attorney and you are a father do not expect to receive any sympathy from the District Attorney’s Office.
Father’s Rights Attorney
Nacol Law Firm PC