I wouldn't go the LLC route, instead look into a Family Limited Partnership...find a lawyer and make sure they add a clause about only being able to seize assets disbursed.

Let me find my document and I'll send you a personal message with the exact wording.

Thank you both.  We are going to go see a Tax Attorney in December and hopefully set up an LLC.  They also have a very knowledgeable CPA there too.  So we can get a package deal, law docs and taxes done.