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January 12, 2012 - Image 3

Resource type:
Text
Publication:
The Detroit Jewish News, 2012-01-12

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Can You Benefit From

frantlines

Asset Protection
Planning?

Core Jewish Values At Work

Keri Guten Cohen

Story Development Editor

I

t could have been a simple dis-
covery, one he kept to himself
and profited from later. Yet when
Brandon Mostyn,13, of Wixom found a
wallet in the parking
lot near the Big Boy's
Restaurant at Maple
and Pontiac Trail, he
was determined to
find its owner.
That owner cer-
_ ',f
tainly would have
Brandon
missed the $270 in
Mostyn
cash, the many credit
cards and all the
identifying information most wallets
contain. That's what Brandon reasoned.
Rather than turn the wallet over
to the police, as someone suggested
to him, Brandon decided to find the
owner himself. He wanted to know for
sure it was back in the owner's hands. It
was the right thing to do, he thought.
Ironically, Brandon had just attended
BBYO-Michigan's Regional Convention
talent show — the biggest event for

area Jewish teens all year — at Temple
Israel in West Bloomfield. (See stories,
pages 17 and 34.)
He's not quite old enough to be in
BBYO yet, but the Hillel Day School
eighth-grader was invited to check out
the annual talent show by a friend.
"During talent show, they had a slide
show going in the background while
people talked a bit about Israel and core
Jewish values — about giving to char-
ity and of your time, and of respect,"
Brandon said. "Finding the wallet was
like a test to me. It's a perfect Jewish
value — not stealing, and giving it back
to the rightful owner:'
Brandon had the address from iden-
tification in the wallet so he started
searching online. The 19-year-old
owner of the wallet also lives in Wixom,
not far from where Brandon lives with
his parents, Lezlie and Robert, and sib-
lings, Ethan, 9, and Shayla, 7.
The teen and his family stopped
by to retrieve the wallet the next day.
Brandon's mother couldn't resist giving
him some motherly advice about not
keeping so much money in his wallet.
"He was so happy when he got it

iN CONTENTS

back:' Brandon said. "He thanked me
with all his heart. He was so happy
someone did the right thing."
The owner offered Brandon a cash
reward for his honesty. Brandon refused
repeatedly, but the teen insisted. Now an
extra $40 is in Brandon's bar mitzvah
fund that's earmarked for college.
"It made me feel really good to give
it to him:' Brandon said. "These values
are the kinds of things we also learn at
Hillel and at home."
Brandon regularly volunteers at
Friendship Circle. He also gave of his
time during the recent Mitzvah Day
sponsored by the Jewish Community
Relations Council and during local
JServe projects (national days of ser-
vice for Jewish teens).
"As parents, we are very proud of the
many things our children do:' his mom
said. "But watching them make a deci-
sion that affects others shows that the
years we spent talking with them has
helped them grow into the people we
hoped they would be."
If you ever lose your wallet, just hope
that Brandon Mostyn is the one who
finds it.



JEWISH NEWS-am

Jan. 12-18, 2012 I 17-23 Tevet 5772 I Vol. CXL, No. 23

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The phrase "asset protection planning" means
different things to different people. I have
always considered asset protection planning to
mean a deliberate effort to initiate programs
and strategies geared to protect someone's assets
against the claims of existing and prospective
creditors.

In counseling clients
about asset protection
planning, experience is
key. It is critical that any
attorney advising clients
has a thorough grasp
of the provisions of the
Fraudulent Transfer Act,
including its history and
Howard B. Young
background, in order
to properly evaluate
whether the implementation of a proposed
strategy will violate the Act. Many attorneys shy
away from distressed clients. I pride myself on
being able to help not only the client who has no
pending claims or contingent liabilities but also
the client who finds himself or herself in severe
financial distress with creditors breathing down
his or her neck.

Because of my background in tax planning,
financing and workouts, as well as estate
planning, I am uniquely situated to craft an asset
protection plan that works for each specific client.
No two clients are the same, particularly in the
asset protection planning area. It is necessary
to evaluate the facts and circumstances of each
individual client and customize a program that
will work for that client. If you feel you might
benefit from consulting with an asset protection
planning attorney, please give me a call or email
me at hyoung@wyrpc.com . And know that when
it comes to asset protection planning, sooner is
always better than later. Don't be one of those
clients who comes to me stating "I wish I had
consulted with you 2 years ago."

By: Howard B. Young, Esq.

You may read Howard's blog at
www.michiganassetprotectionlawyerblog.com .

WEISMAN, YOUNG & RUEMENAPP,
P.C. is a full service business law
firm. Formed in 1980, our continuing
mission is to provide legal services to
our clients with a solid commitment to
effectiveness, efficiency and excellence.

WEISIVIAN,
YOUNG &
RUEMENAPP, P.C.

ATTORNEYS AND COUNSELORS AT LAW

30100 Telegraph Road,

Suite 428
Bingham Farms, MI 48025
Phone: 248.258.2700
Fax: 248.258.8927
Website: wyrpc.com

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