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planning and asset protection Through the use of various types of trusts including living trusts irrevocable trusts family trusts and spendthrift trusts it is possible to transfer ownership of property and assets to a separate legal entity By placing assets into a trust a person can protect those assets from creditors avoid inheritance taxes when leaving money to children or other heirs and otherwise safeguard the money and possessions they have worked hard to acquire There are however rules associated with how various types of trusts are created and managed In this section you will find information on how the process works the different types of asset protection available how to establish a trust and what a trust can do for you Estate Planning Homepage All Legal Topics Go to Next Topic in Estate Planning Ask a Lawyer Topics Found in Estate Planning Asset ProtectionElder LawEstate Planning BasicsLiving Wills Power of AttorneyProbateTrustsWills Find Information About hellip Laws In Your 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