Can I Use a Trust to Protect My Assets from Lawsuits?

A revocable trust does not provide protection for you from lawsuits although if properly implemented they also do not make you more susceptible to lawsuits. Revocable trusts are a great way to set up asset protected trusts called spendthrift trusts for your loved ones after you pass away to protect their inheritance.  

An irrevocable trust can protect your funds from lawsuits and provide estate tax planning benefits. However, in Florida, you generally cannot set up an irrevocable trust which you create, you control, and which benefits you (this is known as a “self-settled asset protection trust”) and have that trust protect your assets from lawsuits.  Instead, you would need to set up the irrevocable trust to benefit others or have someone else set up an irrevocable trust that benefits you.