An irrevocable trust is a trust that cannot be amended, modified, or terminated by the grantor, settlor, or trustor (person who created the trust) after it is created—at least not without the permission of the beneficiary or beneficiaries.

Irrevocable trusts generally offer tax benefits that revocable trusts do not. This is primarily because the grantor, settlor, or trustor who creates an irrevocable trust permanently transfers (gifts) all right of ownership of the assets to the trust and its beneficiaries.

Laws vary from state to state but a trust is usually irrevocable unless the grantor, settlor, or trustor specifies otherwise in the trust agreement.

In Maryland, an irrevocable trust is a type of trust that, once established, typically cannot be changed, modified, or terminated by the person who created it, known as the grantor, settlor, or trustor, without the consent of the trust's beneficiaries. The creation of an irrevocable trust involves a permanent transfer of ownership of assets to the trust, which is managed for the benefit of the beneficiaries according to the terms set out in the trust agreement. The main advantage of an irrevocable trust is the potential for tax benefits, as the assets in the trust are generally not considered part of the grantor's taxable estate, which can lead to estate tax savings. Maryland law will respect the terms of the trust as set forth in the trust agreement, and it is presumed to be irrevocable unless the document specifies that it is revocable. It is important to consult with an attorney to understand the specific implications of creating an irrevocable trust in Maryland, as well as to ensure compliance with all relevant state statutes and federal laws.