Use of wife / spouse in asset protection

[Jimmy H.]

In my research I have noticed that a few investors will put their personal residence in their wife's name. Is the smart in terms of asset protection, does it provide an added benefit?

Also, lots of talk from people who would "never own a single member LLC". I understand that single member LLC's can be considered you "alter ego" and be treated as a sole proprietorship and as your personal assets. I know you must act like an LLC - keep minutes, seperate bank accounts, etc - But in terms of having more than one LLC member, is having your wife enough? Is two members enough? Can you and your wife be considered one congruent unit - or essentially the same person. I do not want to bring on anyone else as a member - be it an employee, birddog, etc - is having my wife as a second member enough to show that the LLC is its own individual entity?