The Emotional Aspect of
Asset Protection Planning
Once Upon A Time isn't Always So Nice
ell, children, you have had a
"Old Mother Hubbard" — she lets
ness of surface beauty; offering a child
full day with Grandpa and
her dog starve. No.
a poisoned apple ...
now it is time for bed. Go
"Three Blind Mice" — They get their
and get ready while I find a soothing
tails cut off with a long
"Little Red Riding Hood"
OLD MOTHER — This looks promising:
fairy tale to help lull you into the land
knife?! Definitely not.
of sweet dreams.
"Rock-a-Bye, baby" —
BM :V.? A little girl is out to do a
Let's see; what
The cradle fell from a tree-
kindness for her grand-
should I read?
top? Who would put a kid
mother. Oh, oh! A wolf eats
Here is a book
the elderly lady and then
of Grimm's fairy
I guess that I will just
a woodsman with an axe
have to try some tried-
dispatches the wolf by ...
these titles will
and-true fairy tales.
No, no, no!
"Cinderella" — a young
Ah, at last! Here is a
thing: "The Girl
girl is orphaned and then
story about little kids: --
Without Hands,"___ _suffers at the hands - of her --
"Hansel and Gretel." Wait a
stepmother and stepsisters.
minute. They wander alone
She is starved and forced to
in a dark forest; they meet
do all sorts of dirty, menial
up with an old woman
work. I think not.
who imprisons the boy and
"Jack and the Beanstalk"
makes plans to cook him
— Oh, good: The kid gets
in an oven; the children get
those seem rather daunting.
cheated out of a cow, hit by
rid of her by tricking her
I know; I shall try a book of nursery
his mother, steals from a
into the oven and ...
giant and then sees to the
Well, children, here you
"There was an old woman who lived
giant's gruesome death. Are
are at last. Come and curl
in a shoe" — she ends up beating her
these admirable traits?
up while Grandpa turns on the DVD. I
children and sending them to bed hun-
"Snow White" — Let's see: A great
understand that this Freddy Krueger is
deal of jealousy based on the shallow-
quite a fellow! ❑
March 8-14, 2012 I 14-20 Adar 5772 I Vol. CXLI, No. 5
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Many clients who have creditor concerns come
to see me so I can develop and implement an
asset protection plan that will help minimize
the severity of their situation. I understand
this objective, and it is paramount in all such
planning I undertake. However, I am also quite
aware of the anxiety that many new clients are
experiencing when I first meet with them.
I see persons who perceive, rightly or wrongly,
that their financial world is collapsing around
them. They fear bankruptcy, loss of their
reputation and the inability to provide for
their families. As
an attorney who has
been practicing asset
protection planning for
over 30 -years-, I can
that dealing with these
human issues is as
important as the asset
Howard B. Young
the client's vision of their situation is far
worse than it actually is. What I try to do is
alleviate the fear and anxiety associated with
Educating the client on the law and describing
what is likely to happen as creditors proceed to
enforce their claims establishes a framework
that is quite different and frequently less
daunting than what the client has envisioned.
As I analyze the client's situation, I am often
able to let the client know that things aren't as
bad as the client believes them to be. I explain
how certain assets cannot be accessed by
creditors and are safe. I am also able to provide
examples of similarly situated clients who were
facing comparable challenges and are much
better off today because they were proactive
about addressing their situation.
If you feel you might benefit from consulting
with an estate and asset protection
planning attorney, please feel free to give
me a call at 248.258.2700 or email me at
By: Howard B. Young, Esq.
You may read Howard's bldg at
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.
ATTORNEYS AND COUNSELORS AT LAW
30100 Telegraph Road,
Bingham Farms, MI 48025
Marc 8 • 2012