How can I protect my assets with an irrevocable trust?

Because the creator of an irrevocable trust typically surrenders the right to terminate or amend the instrument, a future creditor generally cannot collect against the trust, at least to the extent that trust distributions to the creator are limited. Irrevocable trusts are very useful in MassHealth planning when attempting to shelter assets from nursing home costs. They are also useful when attempting to safeguard assets from the creditors of named beneficiaries. For example, an irrevocable trust can be used to ensure that a child’s inheritance is not lost if that child gets divorced.