Irrevocable Needs - Special Needs Trust
Irrevocable trusts are exactly as the name implies, they (generally) cannot be terminated after they are finalized. This is different than a Revocable trust which you can terminate any time you wish and only become irrevocable after the death of the grantor (the trust maker).
There are several types of irrevocable trusts, and they serve different purposes. Two of the most common reasons to create an irrevocable trust are (1) to reduce taxes; and (2) to protect your property.
Special needs trusts are irrevocable trusts that provide financial support to a person with special needs, while protecting their qualifications for government benefits.