I concur with the posts that recommend meeting with an attorney (and insurance agent) on this matter.
States vary as to the legal protection provided to single member LLCs (SMLLC).
An area that is often overlooked in a SMLLC is the drafting of an operating agreement. This document could be beneficial in a legal dispute if drafted correctly; it needs to be tailored to the SMLLC operations and not drafted like a multi-member LLC operating agreement. Once drafted, the SMLLC needs to make sure that it follows the directives noted in the operating agreement.
There are many SMLLCs operating comfortably. If these structures were fraught with major legal issues, then no one would bother setting them up. Just seek legal advice and understand any risks and insure for those.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
