Yes @sj-bitwarden, thanks, your post helped.
Another point of clarification is that in Bitwarden, Favorites and Folders are specific to the user currently logged in and cannot be shared, while Collections act as “Shared Folders” and will be the same in name/appearance for both you and your wife.
Re. shared folders: there is a difference in knowing what will, or won’t work, verses one’s assumptions of what should work. Not knowing that shared folders wouldn’t work in a 2-person context, I was NOT so much needing their use, as I was in simply trying to get them to work! 
Minus @grb’s helpful notice that our Lastpass folders (labeled with a grouping heading in Lastpass), wouldn’t be loaded in the import function, there is no way one would assume (and therefore) conclude that fact! The same goes for the use of folders within Bitwarden’s Organization>Collections use. Now that I know that folders won’t work in our shared context and that we don’t really need multiple collections, we’re good to go forward as we are, without them. 
This brings me to a very positive point about Bitwarden!
Namely, I immediately noticed (vs Lastpass) how unbloated Bitwarden was and as such, how quick the search function was.
Type a letter or two and you get what your seeking! In essence, this negates the need for folders for all except those unusual instances, when those of us with hundreds of passwords, just can’t seem to recall the name of what we assigned, for what we’re seeking.
The primary difference in import is that for your Indivdual import (things just for you or just for your wife), each of you will use the import option available at Tools > Import data and things that you want to share will be imported through Organizations > Settings > Import data as this is the only import that can bring in and create Collections directly.
I discovered (or should I say stumbled upon) this “primary difference”
early-on in my learning curve. After much research, some head scratching, trial and error and thankfully help from @grb, I finally came to understand what you advised above @sj-bitwarden. As such, it was the subtleties, intricacies and assumptions inherent in the sharing (organizational) process (for two people) that I found confounding.
But generally, as is with everything, once it’s all understood, it’s simple, isn’t it!?!
Predicting 100% of the many mistakes, assumptions and faux pas new users will have and make, then mitigating them all with a cohesive help and training scheme, defines the difficulty in designing help by someone with complete and full knowledge of a complex subject (like Bitwarden). Once it’s known and understood, it’s always simple.
Getting every new user (no matter their background or knowledge) from a blank-slate state, to simplicity, is the dilemma and the crux of understanding how training and help should be assembled, organized and presented. Towards that goal, the importance can’t be overstated of help being presented with graphics and screen shots as well as text (or in video form), .
Another point of clarification is that in Bitwarden, Favorites and Folders are specific to the user currently logged in and cannot be shared, while Collections act as “Shared Folders” and will be the same in name/appearance for both you and your wife.
Indeed sj-bitwarden, this is another fact that isn’t immediately apparent, but one would assume the opposite. Mentioning it here is one thing. But the compilation of such assumptions made by unknowing users, should be noted and then dispelled in the formal training that’s hopefully compiled just for 2-person users – i.e., search for a 2-person Bitwarden use scenario and voila, there it is!
In any case, thanks for the help and assistance sj-bitwarden. It would be an overstatement to say it has been fun learning the in’s and out’s of Bitwarden. But I have enjoyed the challenge! 
I should add that for the single user, Bitwarden is impressive in its simplicity! But once, more than one user is introduced to the process, things immediately get complicated and for an army of two (to coin a phrase), that isn’t anticipated, nor expected.
For an actual organizational structure with multiple users, departments and functions within those departments, complexity is obvious and therefore expected. Hence, via my learning curve, I can understand how difficult it is to address a two user organization, when the application was designed and marketed for so much more.
Thus, perhaps there is a better way to educate those of us with what should be a simple two-person sharing process. Taking a tidbits from our discussion in this thread, coupled with all of the other threads herein and found elsewhere on the Internet, should be a prime starting point for assembling charts, graphs, screen shots et al. and providing what Bitwarden can and (more importantly) can’t do for a two person “organization”.
But nevertheless sj-bitwarden, I appreciate Bitwarden for what it is, how it has been designed and how much help I have found from my previous single contact with Bitwarden’s Support and from the help I have received in this forum! Cheers, -Mike