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 North Dakota, an irrevocable trust is a type of trust that, once established, cannot be altered, modified, or terminated by the grantor without the consent of the trust's beneficiaries. The creation of an irrevocable trust involves a permanent transfer of ownership of the grantor's assets to the trust, effectively removing the assets from the grantor's taxable estate. This can result in significant tax advantages, such as reduced estate taxes, because the assets are no longer considered part of the grantor's property. North Dakota law, as with other states, typically presumes a trust to be irrevocable unless the trust instrument explicitly states otherwise. It's important to note that the specific terms and provisions of an irrevocable trust are governed by the trust agreement and relevant North Dakota statutes, which may include the North Dakota Century Code (NDCC) provisions related to trusts.