This is done all the time. Even on the smaller scale with middle/upper-middle class families; they have LLCs or some other legal avenue that owns their car, the

This is done all the time. Even on the smaller scale with middle/upper-middle class families; they have LLCs or some other legal avenue that owns their car, their suburban home(s), etc. It's not just the rich people who do this - it's not hard for someone who's just intelligent to make the right choices in both protecting assets as well as diversifying their wealth.