Asset Protection Specialist Offers Disaster Safeguarding Tips

Published: Monday, December 10, 2012 at 03:59 PM.

As the beleaguered residents of New York City and New Jersey continue to put their lives back together, asset protection lawyer Hillel L. Presser reminds Americans – it could happen to you!

“We’ve seen some bizarre, destructive weather in recent years – nearly 1700 tornadoes in 2011, extreme drought this year and Hurricane Sandy followed up with a Nor’easter, just to name a few,” says Presser, author of “Financial Self-Defense (Revised Edition),”

“And we can expect more of the same. AccuWeather is forecasting major snowstorms from North Carolina to New York City in January and February; severe storms across the South, with the possibility of tornadoes and flash flooding; and a growing drought in the Northwest that carries the potential for more wildfires.”

People should take steps now, before a crisis, to make sure they’re protected, he says.

“If your tree falls on your neighbor’s house in a storm, will you be prepared for a lawsuit?” he asks. “Is your important paperwork in a safe place where you’ll be able to access it if your home floods, like so many people in New York and New Jersey?”

He offers these tips for safeguarding your assets now:

    • Protect your assets from lawsuits. One way to do this is by protectively titling non-exempt assets. Exempt assets vary by state and may include such things as your primary residence and personal furniture; make sure to check your specific state exemptions – those items generally should not need any extra protection. However, non-exempt assets, such as bank accounts, recreational vehicles and the like, should be titled in the names of corporations, limited partnerships, domestic trusts and other entities.

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