An irrevocable trust is a type of trust that cannot be changed or terminated by the person who created it, known as the grantor. Once assets are placed into this trust, the grantor relinquishes control over them, which can provide benefits such as tax advantages and protection from creditors. Because the grantor cannot modify the trust, it offers a level of security for beneficiaries, ensuring that the assets are distributed according to the grantor's wishes. This type of trust is often used in estate planning to manage wealth and provide for loved ones after the grantor's death.