Too late to do anything now. Each state has laws for what is known as fraudulent conveyance and if a debtor tried to defeat a creditor then the transfer awY can be reversed so that creditors are not defeated......therefore your trust idea is not going to work. Hopefully your insurance coverage is sufficient to cover the claim.
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A normal living trust will not protect the person who makes the trust from liability, although it can protect the interests of the third-party beneficiaries. While there are strategies that can protect assets from your creditors, they are not effective unless put in place properly and, in any event, BEFORE the event that creates the liability. Hopefully, your insurance will provide enough coverage that the injured party will not be motivated/able to impose liability on you directly.
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I agree that a living (revocable) trust done right now will not protect you from a creditor. However, if you are sued I would strongly suggest that you talk to a local attorney for assistance.
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