A properly formed company is recognized as a separate legal entity with its own Federal tax ID Number. Undergoing this process brings several asset protection benefits. Limited Liability Companies protect assets in two ways. The first is the protection of personal assets from business creditors. This is referred to as the corporate veil. The second is the protection of business assets from personal creditors.
Most states provide little or no protection in this regard, thus placing your business at risk. Wyoming LLCs do provide this second type which is called charging order protection.
From Wyoming LLC Attorney:
Wyoming LLC Asset Protection https://wyomingllcattorney.com/Form-a-Wyoming-LLC/Asset-Protection