By default, a single member LLC is a disregarded entity and will file a Schedule C as part of your personal tax return. You have the option of choosing to file as an S-corporation, but this election is only for tax purposes and has no effect on the legal position of the business. In other words, the risk to your family and personal assets is exactly the same with a single member LLC, no matter how you file your returns.
Whether a different corporate form would protect you better, is something you need legal advice on.
