Risk and Reward

Last weekend I took 20 young men and 8 adults on a winter campout in the Uintah National Forest in Northern Utah. We rented cross country skis and we carried our gear in backpacks and sleds. We began our trek as the sun set and an enormous full moon began to rise over the horizon. As we ski'd through the forest, we heard coyotes (and possibly wolves) howling in the distance. We traveled six miles, and the final mile was a steep climb, in soft snow, pulling heavy sleds. At times I wondered if I had made the right choice. It certainly would have been safer and easier to stay in my comfort zone at home. But in the end, I realized that the risks were well worth the rewards. I will forever cherish the friendships I enjoyed on this adventure, the brightness of the moon on the snow, the stark shadows, the erie sounds of wild animals in their natural habitat, the vitality of working my muscles and lungs in the cold fresh air, and the silence and peace of a natural setting far removed from city lights, pollution, or man made noise of any kind. A willingness to assume risk is essential to economic progress in a capitalistic society. Every time we start a new business, hire employees, purchase equipment, invent a new product, initiate a new marketing campaign, expand production, or improve technology, we assume some level of risk. Encouraging business owners to assume these risks may be the public policy that justifies asset protection planning. Why else would we allow a wealthy entity to create a separate entity for a new venture that does not jeopardize the assets of the first entity? The laws of every state encourage and allow asset protection planning. Asset protection planning places legal limits on the risk of each new venture. These limitations encourage business owners to take the reasonable risks that are necessary for economic growth.