I am in the trucking business I only have on truck and I drive it. If am behind the wheel and fall asleep i will be at fault? how does the llc protect my assets? do you advice to transfer the home ownership to my spouses name only.
The best protection for you, in the event you fall asleep behind the wheel and cause an accident, is insurance. If you have an LLC, and all of your personal finances are completely separate from your LLC (i.e. no shared accounts, credit cards, etc), it is possible that a lawsuit would only affect your business and you would not be held personally liable. However, it is best to confirm this with an attorney. For more information on the best insurance for you, check out our article on semi truck insurance.