By repositioning (transferring) your assets to an irrevocable have confidence in, you are going to now not lawfully very own a residence, you are going to now not very own a car or truck, you are going to now not have expenditure accounts, and many others. Title in your assets is going to be transferred (repositioned) from you to definitely the name of the independent have confidence in with the independent trustee. You will now not very own assets. It is possible to only be sued for anything you very own or have a direct handle.