Download this Maryland Irrevocable Trust form which proides an option for an individual to set aside certain assets and property for the benefit of his or her chosen beneficiairies. The person who sets aside assets and creates a trust is called a “grantor”. With a trust the grantor has flexibility to allocate the funds at certain times with specified restrictions. As an example, a grantor may decide that the funds be allocated to his beneficiaries for health and education expenses only until the beneficiary reaches the age of 25 and thereafter, the beneficiary can take his or her remaining share. An irrevocable trust, if created, executed and maintained properly can have the added benefit of removing the set aside assts from the grantor’s taxable estate. However, that means the grantor gives up some measure of control, including the ability to change or revoke the document.
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