Sign up with one click: Facebook Twitter Google Share on Facebook grantor (redirected fromgrantors) Thesaurus Legal Financial gran·tor (grăn′tər, -tôr′) n.Law One that makes a grant. American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Ho...
A grantor-retained interest trust is a trust where the grantor transfers assets to an irrevocable trust and receives the income earned by the trust annually or is permitted to live in a residence, depending on the type of trust, for the term of the trust. Upon trust termination, the ...
THE IRREVOCABLE GRANTOR TRUST – AN OVERVIEW A “grantor” trust is a trust that contains certain provisions set forth in..
Bypass trusts: This type of irrevocable trust for married couples allows a spouse to transfer their share of the estate to the surviving spouse at death. The surviving spouse may get income from and use the trust assets; but the trust’s beneficiaries, which the first spouse names, inherit ...
citizen who have established and funded an irrevocable inter vivos trust for the benefit of his descendants. Relative to this, the individual had the power that is exercisable at any time to acquire any property handed in the trust by substituting other property of equivalent value....
A grantor trust is a trust that can be revoked by the grantor at any time, as long as he is alive and mentally competent. A non-grantor trust, also known as an irrevocable trust, cannot be revoked unilaterally by the grantor. Both types of trust arrangem
A GRAT is a trust created so that individuals and families can move wealth to heirs while using little, if any, of their lifetime federal gift and estate-tax exclusion. An individual would work with an attorney to set up an irrevocable trust and transfer assets into it. In return, the ...
the estate may have to payfederal estate taxes. (Revocable trust assets are included in the estate value because the grantor still legallyowns property in a revocable trustfor tax and income purposes. If you’re interested in minimizing your tax burden, you need to open anirrevocable trust.) ...
Grantor trust rules outline certain conditions under which an irrevocable trust can receive some of the same treatments by the IRS as a revocable trust. These situations sometimes lead to the creation of what are known as intentionally defective grantor trusts.6 A grantor is responsible for paying ...
A grantor retained annuity trust (GRAT) is anestate planningtool used to minimize taxes on large financial gifts made to family members. It can avoid using much (if any) of the lifetime gift and estate tax exclusion provided by the Internal Revenue Service (IRS).1 Anirrevocable trustis crea...