In Florida, a man serving 12 years in prison for DUI manslaughter is suing his victims' survivors for his pain, suffering, medical bills and "loss of capacity for enjoying life."

In Illinois last year, siblings aged 20 and 23 sought more than $50,000 in damages from their mom for "bad mothering," including setting a curfew for her then-teenage daughter, "haggling" over clothing prices, and failing to send college care packages.

Lawsuits like these are, unfortunately, more the rule than the exception, says Hillel L. Presser, a lawyer specializing in domestic and international asset protection planning and author of Financial Self-Defense (www.assetprotectionattorneys.com).

"Litigation is America's fastest growing business, and why not? Plaintiffs have everything to gain and nothing but a few hours' time to lose," Presser says. "Even if a case seems utterly ridiculous, like the guy in prison suing his victims' family, defendants are encouraged to settle just to avoid potentially astronomical legal fees."

So where does a person begin? You'll likely need the expertise of an asset protection planner, Presser says, but here are some steps you can take on your own.

• Take stock of your wealth. Inventory your assets - you probably own more than you think. Besides savings and retirement accounts, consider any money owed to you, anticipated inheritances and future assets. Property includes homes, vehicles, jewelry, and land. Don't forget to consider intangible assets, those non-physical but valuable brands, trademarks, patents and intellectual property. Visit www.assetprotectionattorneys.com for an inventory worksheet.

• Put only assets that are exempt from seizure in your name. Federal and state laws protect some personal assets from lawsuits and creditors. Those assets typically include your primary residence; personal items such as furniture and clothing; pensions and retirement funds; and life insurance. State exemption laws vary; federal laws govern exemptions in bankruptcy.

• Protectively title non-exempt assets. Putting the title to valuable assets in the names of corporations, limited partnerships, domestic trusts and other entities offers some protection. You still get to use and enjoy the asset but legal ownership is with an entity that's not subject to your personal creditors' claims. Which entities best shield which assets depends on the asset, your state laws, taxation and your estate plan, to name a few considerations. You can also combine protective entities, for instance, giving ownership of your limited liability company to a limited partnership. It's best to get professional advice when choosing the entity that will best protect an asset.

Whether you're worth millions or a few hundred thousand, it's important to not get caught with your assets showing, Presser says. The more you have exposed, the more enticing a target you become. And the less you have, the more catastrophic the outcome can be.

"If the average person with $200,000 is sued for $1 million, he's wiped out," Presser says. "It's not so horrific for the person with $25 million who gets sued for $5 million.

About Hillel L. Presser

Hillel L. Presser's firm, The Presser Law Firm, P.A., represents individuals and businesses in establishing comprehensive asset protection plans. He is a graduate of Syracuse University's School of Management and Nova Southeastern University's law school, and serves on Nova's President's Advisory Council. He also serves on the boards of several non-profit organizations for his professional athlete clients and is a former adjunct faculty member for law at Lynn University. Hillel has authored several books, including "Asset Protection Secrets" and has been featured in Forbes, Sports Illustrated, the Robb Report, the Houston Chronicle, and the Los Angeles Times, among other publications.

Members manage virtual grain using real-time market information

WEST DES MOINES, IOWA - March 7, 2012 - Grain is the name of the game in a new commodity challenge simulation being offered by the Iowa Farm Bureau Federation (IFBF).

Starting March 7 and running through Oct. 12, Iowa Farm Bureau members can participate in a commodity challenge simulation to learn more about markets, pricing and risk management...but without risking real bushels and money. Iowa Farm Bureau members involved in the simulation are allocated virtual grain (75,000 bushels of corn and 25,000 bushels of soybeans) and challenged to make wise marketing decisions for the 2012 new crop to be harvested in October.

"The goal of this grain marketing challenge isn't selling the highest price, but learning how to effectively manage the risk associated with today's volatile markets," explained Ed Kordick, IFBF commodity services manager. "We want to help farmers understand how to use various tools and see how they work with real markets. Risk management is the focus."

Members can join the simulation challenge at any time. They receive educational materials by e-mail and online. Participants must be members of their county Farm Bureau to access the simulation.  To register, go to www.iowafarmbureau.com and click on the hotbox banner. For more information, contact Kordick at ekordick@ifbf.org or 515-225-5433.

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Wednesday, March 7, 2012

WASHINGTON - The Senate Tuesday night unanimously approved a bill authored by U.S. Senators Patrick Leahy (D-Vt.) and Chuck Grassley (R-Iowa) to increase penalties for trafficking counterfeit drugs.  The legislation responds to recommendations made by the U.S. Intellectual Property Enforcement Coordinator and the administration's Counterfeit Pharmaceutical Inter-agency Working Group.

The Counterfeit Drug Penalty Enhancement Act will increase penalties for the trafficking of counterfeit drugs to reflect the severity of the crime and the harm to the public.  While it is currently illegal to introduce counterfeit drugs into interstate commerce, the penalties are no different than those for the trafficking of other products, such as electronics or clothing.  The Counterfeit Drug Penalty Enhancement Act will target violators that knowingly manufacture, sell or traffic counterfeit medicines to the United States.

"We cannot allow the counterfeiting of life-saving medicine to be just one more low-risk venture from which international organized criminals can profit," said Leahy.  "While we should not expect that enactment of this or any legislation will completely deter the serious problem of counterfeit medication entering the American supply chain, it is an important step in the fight.  I urge the House of Representatives to act quickly on this legislation."

"Worldwide counterfeit medicines are a multi-billion dollar industry, and growing at an alarming pace, especially over the internet.  These medicines pose a serious threat to the health and safety of unsuspecting Americans," Grassley said.  "The House should act as quickly as possible to ensure that counterfeit drug traffickers are punished accordingly for putting people's lives at risk with this serious crime.  "

The legislation is cosponsored by Senators Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Sheldon Whitehouse (D-R.I.), Dianne Feinstein (D-Calif.), Jon Kyl (R-Ariz.), Christopher Coons (D-Del.), Amy Klobuchar (D-Minn.), and Robert Casey (D-Pa.).  Companion legislation in the House of Representatives was introduced last year by Representatives Patrick Meehan (R-Pa.) and Linda Sánchez (D-Calif.).

It has been reported that counterfeit drugs result in 100,000 fatalities globally each year, and account for an estimated $75 billion in annual revenue for criminal enterprises.

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MILWAUKEE, WI (03/06/2012)(readMedia)-- Mikhaila Norton of Bettendorf, IA has been inducted into Alpha Sigma Nu, a prestigious international Jesuit honor society, at Marquette University. Norton is a senior in the College of Business Administration majoring in accounting and human resources.

Alpha Sigma Nu is a worldwide honor society for students at Jesuit colleges and universities who distinguish themselves in scholarship, loyalty, and service. Alpha Sigma Nu members exemplify and demonstrate a commitment to the Jesuit ideals of higher education, which are intellectual, social, moral, and religious in nature. Induction to Alpha Sigma Nu is one of the highest honors a student can receive on a Jesuit campus.

Alpha Sigma Nu applicants go through a rigorous application process. For eligibility, Alpha Sigma Nu candidates must rank in the top fifteen percent of their class, and no more than four percent of the junior and senior class is inducted. Nominees are chosen first by a student selection committee, and then approved by the students' respective college deans and Marquette University President Rev. Scott R. Pilarz, S.J.

Alpha Sigma Nu was founded in 1915 by Fr. John Danihy, S.J. at Marquette University. Danihy was the university's first athletic director and first dean of journalism.

An induction banquet to honor new members will take place on Saturday, April 14, in the AMU Ballrooms.