Sunday around 9pm UTC there will be a hard fork from Litecoin: Litecoin Cash.

All people who own Litecoin (and have the private key) will be able to claim 10 Litecoin Cash for every Litecoin they own.
Aside from the motives of the forkers (honorable or a get rich quick scheme) what should LTC owners do?

What to do if you have your Litecoins currently on an exchange? Which desktop wallet is best suited for storing your Litecoins safely and claiming your Litecoin Cash?