It is well known that to run a successful business you need a plan…specifically a business plan. But what exactly does the plan do for the business? It helps keep them focused on what is important and how to minimize risk for the business. Isn’t that exactly what a responsible Gun Owner should be doing?
There is a lot of similarity to planning for a business and planning as a gun owner. There are three primary areas the gun owner should think about when they think of planning.
- How do I protect my Assets?
- In a business these are the equipment and supplies and possibly their building. Any asset that the business owns need to have a plan to protect it from loss or breakage. Same holds true for a gun owner. You need to protect your assets, your firearms, as they are most likely expensive and valuable to you. Having an “asset protection” plan for your firearms is critical as a gun owner.
- How do I protect my Family from the “accidental felony?”
- In a business you create trusts and LLCs and other legal instruments to protect your family in case something happens to you or your business. For a gun owner, having a well-planned “Gun Trust” is also critical to protecting your family. This type of trust is very specific to firearms and allows for the legal transfer, gifting, and use of your firearms without causing a felony in the eyes of the law. Living Trusts don’t allow this to happen the way a Gun Trust is designed and is what responsible gun owners use to protect their family and loved ones.
- How do you protect yourself, family, and loved ones when in danger?
- In a business this is oriented towards instruments like insurance and other tools to protect your employees and business from invasion or catastrophe. For a gun owner, this includes how would you use your gun to protect yourself or your family. Being prepared for this is more than knowing where your gun is when you hear a window break in your house. This requires massive planning and there are some excellent options for being prepared for this situation in advance.
These are three primary ways both a business and a gun owner should be thinking about how to minimize the risk of owning a firearm. After all, minimizing risk means everyone is safer and you have more control over some potentially bad situations. It all comes down to planning and doing this in advance of some event occurring. Risk management doesn’t happen after an event takes place, it happens before something occurs. If you would like to know what your level of risk might be in these areas, give me a call and I would be happy to discuss these further. Because a prepared gun owner is a safe gun owner.