When is it time to incorporate?

When is it time to incorporate?

I realize that buying property puts you at risk for being sued. At some point, I think you become a target, and should protect your personal assets. Is incorporating a good way to do that? I know insurance protects you, but doesn't the corporation protect your personal monies? When is the right time to do so - incorporate?

Also, what benefits do you get out of having a corporation own your property vs. you personally owning your property? Tax or otherwise?