Local Law Firms Home > Bankruptcy & Foreclosure News > Creditors’ Strategy for Milwaukee Bankruptcy Did you know? Asset protection trusts can shield assets from creditors during bankruptcy. Setting up an irrevocable trust and transferring ownership of assets to this trust will shield the assets from creditors and the bankruptcy court. You will still be the beneficiary, even though the assets are not part of your estate any longer. To add one more firewall between the assets and creditors, create an LLC and name it as the beneficiary. |