Is a Domestic Asset Protection
Trust Right for You?

frontlines

Only Six Words Short And Sweet!

Debra B. Darvick
Special to the Jewish News

S

mith Magazine's just-pub-
lished Six-Word Memoirs on
Jewish Life features bon mots
from locals Gayla Bassham, Ben Falik,
Rabbi Steven Rubinstein, Lisa Soble
Seigmann and yours truly.
Another local connection
is that one of the
book's editors, Amy
Rothberger (now
of New York), is the
daughter of Risha Ring
of Commerce.
Out of thousands of
submissions, the editors
chose 360 six-word mem-
oirs — a rich treasure
trove of Jewish experiences.
Though unfamiliar
with the six-word concept,
Lisa Soble Siegmann was
instantly captivated. "We can talk and
talk, but sometimes putting things
succinctly is more powerful;' said
Siegmann, whose Did you call your
mother today? made the cut. "The
form makes you think and reflect:'
Siegmann, associate director of
Federation's Jewish Experiences for
Families, recently returned from a
conference where participants were
asked to give six-word descriptions

of Jewish family education. "It gave
me time to reflect on what it really
means:' she said.
Ben Falik's memoir — Hair: liability
turned asset; still thick — focuses on
identity issues tied up with Jewish hair.
"I've been thinking about how I see
the world as a Jewish adult," Falik said,
"versu s a kid growing up surrounded
by other kids with straight,
floppy hair that I coveted."
Falik, manager of Detroit
Service Initiatives for Repair
the World (werepair.org )
writes the column, Jewfro,
for the JN's Red Thread
magazine and acknowl-
edges that his curly hair
is "definitely part of [his]
Jewish identity."
Rabbi Steven
Rubenstein of
Congregation Beth Ahm
in West Bloomfield penned six words
that draw on the wisdom of a rabbi of
old: Like Zusya, trying to be me.
"The story of Zusya teaches us that
we don't have to be Moses:' he said.
"We just have to strive within our own
individual capabilities. It's an impor-
tant part of our tradition because the
story also teaches us to be the best
person we can be using the gifts that
God gave us."
Readers unfamiliar with the allu-

iN CONTENTS

May 3 - May 9, 2012

I

sion to Zusya, can read the rabbi's
story (more than six words) in the
book's glossary.
Raised Arkansas Baptist. Now Detroit
Jew. You know there's a story there.
Gayla Bassham was raised "on a cow
farm way out in the country in a com-
munity of 600 people. Reading Sidney
Taylor's All of a Kind Family made
[Jewish life] seem so cool;' she recalled.
She told her mother that when she grew
up she was going to be Jewish. ("You
can't," she remembered her mother
saying.`"You have to be born Jewish:"
Eventually, Bassham attended the
University of Chicago where she met
her husband, Michael Karesh."I knew
he was Jewish when we met',' she said. "I
was 23 when I learned it was possible to
convert to Judaism." Fulfilling her child-
hood dream, she converted well before
they became engaged.
My contribution was Saying
Kaddish. Missing You. Remembering,
Remembering.
Up for writing your own memoir?
The Jewish News is sponsoring a "Six-
Word Memoirs on Detroit Jewish Life"
contest. Submit your memoir to
kcohen@renmedia.us by May 17.
Winners will be posted in this space.
To purchase the book Six-Word
Memoirs on Jewish Life and check out
other memoir opportunities, go to
SMITHmag.net.

theJEWISHNEWS corn

11-17 Iyar 5772 Vol. CXLI, No. 13

As an attorney who has been practicing
asset protection planning for over 30
years, I have assisted many clients with the
establishment of domestic asset protection
trusts (a "DAFT'). The concept is fairly
simple -- the client transfers valuable assets
to the DAPT and thereafter those assets are
protected from the client's creditors. Since
a DAPT cannot be created under Michigan
law, I utilize out-of-state jurisdictions such
as Delaware where local trust law allows
individuals to both establish and be a
beneficiary of the trust.
A typical
DAPT
utilizes a financial
institution, as the
Trustee of the trust,
but the client retains
the right to continue
to manage the trust
assets. Generally, a
Distribution Advisor
-------- chosen by • the
Howard B. Young
client
controls
distributions from the trust to a class of
beneficiaries that includes the client and
members of his or her family. Of course, it is
the ability of the client to establish a trust in
which the client is designated as one of the
beneficiaries that presents the opportunity
for asset protection planning.
Many of my clients are realistically
concerned that due to the nature of their
business or other activities they engage in,
they may be exposed to lawsuits that could
wipe them out financially. Representative
clients who may benefit from a DAFT include
high risk professionals who are exposed to
personal liability relating to their practice
(such as doctors and attorneys), real
estate developers and others with personal
guarantees, business owners, investors
and individuals who wish to protect an
inheritance from future creditors.
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

Around Town

23
Arts/Entertainment
47
Building Community
31
Calendar
24
Dining Around The D ....27
Food
54
Here's To
22
Letters
5
Life Cycles
57
Marketplace
.61
Metro
8

Next Generation
Obituaries
Out & About
Points Of View
Sports
Staff Box/Phone List
Synagogue List
Torah Portion

28
70
49
.41
46
6
44
43

Shabbat: Friday, May 4, 8:18 p.m.
Shabbat Ends: Saturday, May 5, 9:25 p.m.

Lag b'Omer: Thursday, May 10.

Shabbat: Friday, May 11, 8:26 p.m.
Shabbat Ends: Saturday, May 12, 9:34 p.m.

Times are according to the Yeshiva Beth
Yehudah calendar.

Columnist

Danny Raskin

Shabbat Lights

56

On The Cover:

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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.

WEISMAN,
YOUNG &
RUE1VIENAPP, 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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