Revocable trusts do not offer asset protection, since there are no restrictions on the trustmaker’s to access the trust assets. If an individual would like to protect their assets, the use of a different estate planning tool would be suggested including various forms of irrevocable trusts. Irrevocable trusts provide asset protection since the trustmaker usually may not serve as the trustee and usually is also not the beneficiary and due to this lack of control, creditors have difficulty in reaching those assets. Life Insurance Trusts (“ILITs”) are an effective way to protect life insurance benefits and reduce your overall estate value to reduce estate taxes. For clients who have rental properties or business assets they want to protect, LLC’s can be created to protect the client assets from claims made by creditors stemming from the assets owned by the LLC.