Sometimes we wonder how far something can legally be stretched. When forming an LLC, some may wonder if there’s any way to protect assets from being used to satisfy legal responsibilities related to an accident or misdeed. 

Legal protections, like a tape measure, include limits on how far they can be stretched. 

It may seem difficult to decide what a business should own versus what should be owned personally. Ownership and liability can be confusing at times. For instance, if a truck is used by a contractor while doing construction work but also used to pick up children from daycare, should that truck be owned by the business or the individual?