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Asset Protection Planning
For High Risk Professionals

Flying — Is It Worth The Hassle?

F

rom time immemorial, comedians have made fun of
but had to be used at the airport within 24 hours.
air travel. I'm sure there was even a stand-up comic in
Bottom line, I ended up using $6 in food vouchers to buy
1903 who blamed the Wright Brothers for losing his
three bottles of water for the same money I could purchase
luggage. The material writes itself; like my 12:05 p.m. flight to
36 bottles at Costco. Then it was off to the airport bookstore
Florida a few weeks ago to visit relatives.
with my $25 voucher where I purchased $32 in books that
Just as I was about to board at Gate 23, my plane was given up I'll never read for a net loss of $7.
to the passengers whose Los Angeles-bound flight already had
It was all worth it just to finally board my long-delayed
been delayed three hours. On the misery scale, the airline felt
flight to Florida, where a baby cried the entire trip; cries that
obligated to satisfy those customers first.
could barely be heard over my own.
I would now leave at 1:25 p.m. from Gate 7. Except
I awoke early the next morning to a glorious
upon my arrival at Gate 7, I was informed that we had
Florida day and headed out the door for a brisk
been misinformed and instructed to head to Gate 27
walk, determined to put my previous day's travel
for departure — which never happened because 20
woes behind me. This was also going to be the
minutes after boarding that aircraft, we were asked to
kickoff of what I hoped would be my new spring
disembark because of a brake problem.
exercise regimen. And just as I was starting to
The disproportionate level of annoyance over the
feel really good about myself, I was abruptly
brake problem exhibited by some passengers con-
passed on the sidewalk by a group of 90-year-old
vinced me that they would've rather dragged their
speed walkers, and I was the only one wearing a
feet on the ground upon landing to get the plane to
fanny pack.
Alan
stop than be inconvenienced any further. My 12:05
And now you know why my usual favorite
Muskovitz
flight would now be leaving at 4 p.m. on my third
form of travel is just sitting on my couch watch-
plane from my fourth gate, Gate 10.
Jewish News
ing the Travel Channel in HD. Although make no
To ease the pain, the airline offered me a $40
Columnist
mistake, I am incredibly grateful to my Florida
voucher that could be picked up at Gate 11.
relatives for their hospitality. I hope one day to
Vouchers, I was told, that were redeemable at any location
return the favor, or at least give them some kind of voucher.
accepting MasterCard. However, because of a computer
Ladies and gentlemen, thank you for reading. You are now
glitch, only $6 airport food vouchers were being printed. The
free to move about the rest of this week's paper.
computer guys got the problem fixed, but not for the afore-
mentioned total of $40, but $25 non-food vouchers that now
Alan Muskovitz is a writer, speaker, emcee and voiceover talent.
couldn't be used anywhere American Express was accepted,
Visit his website at laughwithbigal.com .

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Many professionals in high risk fields,
such as doctors, attorneys, financial planners
and even members of a board of directors
for a bank or other corporation, have become
increasingly aware of the risks their professions
pose to their personal assets. We live in a
litigious society in which such professionals are
often targets of opportunistic people who look
for any chance to obtain a financial windfall at
the expense of others.
I have many professional clients who
have been proactive in taking the necessary
steps to protect their assets against a possible
catastrophic judgment
that could wipe out
their personal holdings.
In most cases, these
individuals cite family
reasons as the primary
motivation for coming
to see me. Simply put,
' they want to ensure
that their hard-earned
Howard B. Young
wealth, ultimately
earmarked for the care of their spouse and
children, will be protected from an unexpected
event or creditor.
While I am impressed with how astute
these clients are, I am also exposed to many
individuals who have not been proactive and
who are now in the midst of an unforeseen
circumstance that is threatening their family's
financial security. Of course, I always welcome
the opportunity to help a distressed client
deal with a difficult situation, and there is
usually valuable planning that can be done,
even at this stage. However, the alternatives
available in such late stage planning are often
limited by laws prohibiting fraudulent transfers.
It is therefore incumbent upon higher risk
individuals to take the steps necessary to
properly protect their assets prior to a predator
attempting to snatch those assets.
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
hyoung@wyrpc.com .

By: Howard B. Young, Esq.

You may read Howard's blog at
my.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.

WEISMAN,
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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