In terms of asset protection, the general recommendation is you have the assets owned by a trust. The trustee for the trust is limited liability company. So if I want to transfer the trust control I just transfer the shares in the company. The directors of the company are in-effect the trustee. Some people would claim that those assets are now protected if I am personally sued. However if I get sued and have to pay, surely my ownership in the company is a personal asset. Obviously I could get around that by giving my parents a third share or something along those lines, etc. Is my thinking correct?