Does a trust protect my assets from creditors?

A typical "lawyer answer" to this question is yes and no. Some types of trusts can protect your assets from the claims of creditors, but many kinds of trusts, such as the living revocable trust of which you are the trustee will not protect your assets from creditors. If you are interested in having your trust serve this purpose, you should make that clear to your lawyer so that your trust can be drafted to achieve this goal.. As a general rule, in asset protection trusts you are allowed little control over the trust.