An irrevocable gift or irrevocable gift trust is a trust that once arranged cannot be changed, altered or revoked in any manner. Irrevocable gifts offer the donor immediate income tax deductions and as such removes the assets from the value of the estate. Because of this, the trust cannot be changed at a later date. Examples of irrevocable gifts include charitable remainder trusts and gift annuities. Irrevocable gift trusts are ideal for people who want to start giving immediately to a person or institution or may not be able to manage the assets or to a charity that the donor wants to receive annually while they are still living and at the same time want it set up to receive the tax deduction immediately.