Irrevocable trust. Unlike a revocable trust, this type cannot be modified or revised until the agreement itself expires. Termination of the trust can only take place with the consent of the beneficiary. In many ways, trusts in South Africa operate in the same way as other common law countries, although South African law is actually a mixture of the British common law system and Romano-Dutch law. Property. After you insert a property into a trust relationship, that property is officially called a trust property. If a lawyer sets up your trust, it will likely cost between $1,000 and $7,000, depending on the complexity of your financial situation. For example, in some situations, it may be necessary for some assets to require a revocable trust and for other assets an irrevocable trust.