Download this Delaware Irrevocable Living Trust Form in order to place your chosen asssets and property into a spearate entity to be held for the benefit of your beneficiaries. You, as the grantor, can choose when and how you want your assets and property distributed to your loved ones. You can decide that you want your loved ones to reach a more mature age, before they are allowed to have a distribution of funds. You can decide that the funds only be expended for certain purposes. In addition, as grantor, you choose a trustee who will be responsbible for managing the trust.
An irrevocable trust is not meant to be changed or revoked once it is created. If created and executed properly, the assets you transfer into it may not e considered part of your taxable estate. In exchange, you give up a measure of control over the property.