An irrevocable trust's only serious competition with regards to asset protection strength is with the offshore asset protection trust. The only significant difference lies with the judgment; with a domestic irrevocable trust, a judgment should not be executable if the defendant's assets are no longer in his name.rom this, one may conclude it is a no-brainer to go with an offshore asset protection trust. However, the costs of implementing this type of trust, combined with the reporting requirements due to the Patriot act, and now the new reporting requirements as of April 2010, make this an increasingly challenging task.