If you place your home in an irrevocable trust, you will keep it away from creditors and estate taxes due to the legal setup of the trust. However, unless you are worth millions, it might not be worth the cost and effort, as estate taxes are levied at $12.6 million in 2022. If you place your home in an irrevocable trust it can be very hard to dissolve the trust if you want to sell the house, or if you decide to change the beneficiary of your home.