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Definitions from WordNet

Definitions from the Web

Term: Grantor Trust

A grantor trust, also known as an intentionally defective grantor trust (IDGT), is a legal entity established by a grantor to transfer assets into a trust while still retaining control over the trust and its income.

Senses and Usages:

Sense 1:

Noun: A trust in which the grantor, also known as the creator or settlor, is also the trust's beneficiary.

Example Sentence: In a grantor trust, the grantor receives income from the trust's assets while still keeping control over them.

Example Products:

• Books about Grantor Trusts
• Grantor Trust Legal Forms

Sense 2:

Noun: A type of trust where the grantor can alter or revoke the trust at any time during their lifetime.

Example Sentence: The grantor trust provides flexibility as the grantor can make changes to the trust's terms when necessary.

Example Products:

• Revocable Grantor Trusts
• Grantor Trust Software

Sense 3:

Noun: A trust where the grantor places assets into the trust for the benefit of their chosen beneficiaries.

Example Sentence: The grantor trust was established to ensure the future financial security of the grantor's children.

Example Products:

• Grantor Trust Kits
• Books on Beneficiary Trusts

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