Estate Law Questions? Ask an Estate Lawyer.
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A revocable trust would not provide any protection from creditors. It is mainly used to avoid probate and control the distribution of assets.
An irrevocable trust may provide protection from creditor claims but you would need to give up all ownership and control and pay an independent trustee to administer the asset in the trust.
Ir is protected from creditor claims because you no longer own it.
No. The beneficiary may not retain any control over the trust assets in an irrevocable trust.
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