A vehicle for holding a person "s assets to protect them from lenders. Asset protection trusts permit, if it"s not easy to get a lender to seize assets, settle together with the debtor on conditions that are advantageous rather than participating in litigation that is expensive. This vehicle includes a spendthrift clause and has complicated regulatory demands, such as being irrevocable. An asset protection trust does provide for distributions that are occasional, but those distributions must happen at an unaffiliated trustee"s discretion.