In Oklahoma, irrevocable trusts may be modified by the consent of all the parties, including the grantor. Irrevocable trusts can also be modified by a court, so long as the party petitioning for the modification can prove that the trust contains and error that misrepresents the grantor's intentions. There are other options, such as a procedure called "decanting," which allows for certain modifications of irrevocable trusts.
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But by far our favorite way to modify an irrevocable trust is by appointing a trust protector. Trust protectors are independent parties named in a trust who have specifically delineated authorities to modify the trust for limited purposes - such as filling trustee vacancies, directing trust investments, modifying certain beneficial interests, and even amending the trust for tax purposes or other changes in the law.
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The great thing about trust protectors is that they may act even if the grantor is incapacitated or deceased (at which time modification by consent would be impossible), they do not have to rely on a mistake in order to modify the trust (the way a court would), and they don't have to change the situs of the trust and create a new trust (as in decanting).
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With an irrevocable trust in Owasso, the grantor cannot revoke, amend, or restate the trust once it is executed. That does not mean that it can't be changed. It just means the grantor isn't the one who can change it.