Asset Protection Trusts safeguard your assets from your or your beneficiaries’ creditors. These trusts aim to shield assets from nursing homes, lawsuits, children’s divorces, or other creditors during one’s lifetime and posthumously. They aren’t tax trusts but are tailored for those unconcerned about federal estate taxes upon death (currently $12.92 million for individuals and $25.84 million for couples). The primary perk is you remain in control of the trust while protecting your assets during your lifetime and beyond.