Professional Accounting for Individuals

Hy Appelbaum is New Jersey’s leading expert in asset protection. He can help you protect your business, your home, and yourself by utilizing state and federal exemptions, family limited partnerships, corporations, limited liability companies, domestic and offshore trusts as well as other techniques.

Under the laws of the United States and its territories, certain property owned by a person may be protected from creditors in certain situations. One such bankruptcy law allows for the protection of certain exempt property by a debtor during and after a bankruptcy case. Only certain kinds of property can be protected under this exemption. For example, cash or cash equivalents (e.g., bank accounts) cannot be protected under this exemption; however, personal property can be protected (e.g., furniture). If you want to protect your home from creditors, you must move all of your personal property out of your home so that it is no longer in the home when the bankruptcy case is filed. If you do not move your property out of your home before filing for bankruptcy protection, then your home will not be eligible for protection under federal law.