The dealer of an irrevocable cannot take back his property. She abandons him forever when she brings him into the trust property. It cannot revoke the trust or change any of its conditions after forming it. A testamentary trust is a part of a UWO trust created when the deceased or the person making the will directs a will in which part or all of the ownership is transferred to one or more trusts at the time of death. The grantor must set himself aside after creating and funding an irrevocable trust. Someone else has to act as a trustee, either an individual or perhaps a financial institution. The licensor reserves the right to indicate the agent in the trust`s governing documents. The information contained in this article is not intended as legal advice and is not a substitute for legal advice. .