That may well be true, but for a trade-off of risking everything I own in this world vs. an hour with an accountant/lawyer who actually knows what they're talking about, it's a pretty easy decision.

Also, there are other reasons to consider setting up a formal business entity besides a possible legal shield. You may not be able to access various financial services as a private individual. It may have tax advantages. Simply keeping your personal and business finances separate from day one may save more time and money when it comes to doing your accounts than it cost to set up.

Again, I'm not saying these would necessarily be the case for the OP here. I'm just saying that based only on what we've been told here, no-one in this forum is likely to be in a position to give reliable advice, while a qualified professional who can ask the right questions in their own field of expertise and in the relevant jurisdiction could.