No, you can't safely do an irrevocable trust at this point: courts have the power to set aside transactions which were clearly done to defraud creditors or hide assets from them, including potential judgment creditors. Since you are already aware you may be sued, if the other side pursues the money in the trust, most reasonable costs would correctly see what you did as an attempt to defraud the other side and let them get at the assets in the trust. For a trust to protect you, it really should be done *before* you know or have reason to think you will owe money.