Yes, you can, but unless you're a pretty big operator, I don't think its worth the trouble. The technique is to own the real estate as an individual, lease it to the LLC, and realize some benefit on self employment tax. But some try to have EVERYTHING owned by the LLC, which, of course, is just a kill shot to your foot: then, the LLC is obviously just a sham, and the corporate veil can be "pierced".
So the LLC has to own some classes of assets, usually the cattle and machinery, which are then subject to liability.
Best method for most is to make your insurance benefits more attractive than your assets. Liability insurance isn't all that expensive. Make the amount higher than your net worth, and the lawyers will generally be content with that.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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