Man cheats wife, takes a second wife. Wife finds out and starts having an affair – not wanting to give up comforts of money. Father in law finds out. Woman instigates elder son to kill Father in law. He obliges. Second son finds out about affair. Woman kills OWN son.

2 murders. 2 people in jail.

Man finds out about wife’s affair. Kills child. Then kills himself in such a way that the blame falls on wife.

These are both real life stories.

Imagine you have made the grandson the nominee for the grandfather. Husband and wife single holding, no nominee. …..

Adopted daughter – parentage unknown – has a great academic record till class 9..suddenly finds bad company in class X…wants to run away with a guy…he convinces her to kill her parents. She does. Father’s will bequeaths all property to her 🙁 ..and she will spend 14 years in jail. What happens to the inheritance for the next 14 years?

Life is not getting easy for the IFA. As a person giving financial advice, you normally have no clue about the underlying tensions. So what you do with good intentions, but in such cases you have no clue what the end result will be.

1. Son nominee: he may not share it with his family no. 1, he may use it for his family no. 2
2. Daughter in law nominee: she may run away with her new found boy friend and cheat her husband and children
3. Children as a nominee: they may need a major guardian who may cheat them.

Seriously when one sees crime related stories, one keeps wondering how prepared can we be for such unforeseen actions. Really difficult to be prepared for all such contingencies.

These days I advice the following:

• Husband and Wife holding in Anyone or survivor mode
• H’s father nominee for his money and W’s father for W’s money – either parent is what I mean.
• Older children named as nominee when they are a major
• When children are grown and independent, named in the will and put as nominee
• Siblings used if there are no kids
• Even if the kids are green card holders, they are the nominees
• Bank accounts with 2-3 account holders also having an outsider – sibling as nominee

not sure what will work. IFAs cannot be prepared for amazingly criminal activities like mother killing child or one parent killing the other parent and ending up in jail. Serious thought necessary for such actions…law has to step in.