There are two types of irrevocable trusts: irrevocable living trusts and testamentary trusts. They both serve different purposes. An irrevocable living trust, also referred to as an “inter vivos irrevocable trust,” is created and funded by
someone who is still living. However, a testamentary trust is created and funded after someone’s death. This means
that no one who is still living has any legal authority to change the terms of the trust. Learn more about irrevocable trust in this presentation.