[blakdawg]

If “fold[ing] up shop” includes filing bankruptcy and losing all of your non-retirement assets, and you’re cool with that, then you’re basically good.

An LLC won’t protect you from claims that you personally screwed up; or that you treated the LLC like an alter ego (rather than as a separate entity) and thus piercing the veil is appropriate.

If you want to consider a very very unlikely but not impossible scenario, look at the Hulk Hogan/Peter Thiel vs. Gawker litigation and its aftermath.

If you need protection from litigation threats, you need insurance; structures like LLC’s don’t win/settle lawsuits, they make it tougher for plaintiffs to collect after they win a judgement.