Hi kirlands and welcome to the trust deed forum.

If you have a significant asset, like a chunk of equity in your home, it "vests" (transfers to) your Trustee when you sign a trust deed. They need to realise that value for the benefit of your creditors.

So, if there is lots of equity there is no way to "protect" it if by "protection" you mean not having to deal with it as part of a trust deed.

Do you have equity in your home?

If it's a limited amount, or you can in some way rely on friends and family to deal with an equity commitment in the future, this issue might not be a barrier to entering a trust deed though it's wise to be careful and cover everything in writing before finally going ahead.

This article may help you to consider some of the issues surrounding working in the legal field and signing a trust deed:

http://www.trust-deed.co.uk/news/canasolicitorenterascotishtrustdeed.php

In terms of precisely how your career in law might be affected you'll need to discuss the situation with the relevant professional bodies and also the employer(s) relevant to your situation.

There is a way of proposing a trust deed to your creditors which excludes equity in your dwelling-house. However, if the equity is sizeable then the trust deed is only likely to be rejected on that basis and you risk being made bankrupt instead.

I believe that a solicitor's licence to practice is suspended whilst in a trust deed, though I guess this would not be an issue unless you were likely to reach this point during the term of the trust deed. You would be well advised to check the terms of your contract as it may make stipulations about these matters.