Yes - the use of LLC's is extremely common for several reasons. People who are questioning this should have a quick read on wiki http://en.wikipedia.org/wiki/Limited_liability_company , the advantages section gets right to it. I have personal acquaintances who have established LLC's specifically for the purpose of removing assets from their name. An individual can get in a car accident, be sued, and the prosecution team can attack not only the individual assets, but assets of the individual's corporations (unless of course it is a 'limited liability corp.'). Just one example that is outside of the tax-reason example.
