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Related to grantor: grantor trust
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  • noun

Words related to grantor

a person who makes a grant in legal form

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John Jastremski, Grantor Retained Unitrust (GRUT), The Retirement Group, Benefits Blog (Thursday, July 27, 2011), http://trgcapital.
As an unfunded trust, the grantor will normally make annual gilts to the trust so that it can pay the insurance premiums.
A grantor trust is a trust where the grantor has retained certain control over the trust.
Under current law, a grantor trust is a revocable or irrevocable trust where the grantor is treated as the owner of the trust, but is not considered separately from the trust for income tax purposes.
The regulations provide a method for determining the portion of the corpus of a grantor retained annuity trust or grantor retained unitrust that is includible in the grantor's gross estate under Sec.
The grantor (business owner) creates the GRAT trust and transfers the business to the trust.
See Q 307 regarding life insurance trusts, Q 844 as to grantor trusts, and Q 310 as to when trust income is taxable to someone other than the grantor, the trust or the beneficiary.
The durable power of attorney authorizes the power-holder to act for the grantor when the grantor is disabled.
However, there are two exceptions to this rule: (1) with respect to any taxable year ending before the date that is two years after the decedent's death, trusts owned by the decedent (under the grantor trust rules) and to which the residue of the decedent's estate will pass under his will need not file estimated tax (if no will is admitted to probate, this rule will apply to a trust which is primarily responsible for paying taxes, debts and administration expenses); and (2) charitable trusts (as defined in IRC Section 511) and private foundations are not required to file estimated tax.
The grantor lends a sum of money to the DIGT in exchange for an interest-only promissory balloon note that charges interest at the applicable AFR.
In creating a trust, assets are placed in the trust by the grantor (also referred to as the settlor, creator, or trustor).
Postpone full ownership of trust assets until the beneficiaries of the trust have attained ages specified by the grantor or until events specified by the grantor have occurred.
The grantor (or gun owner) creates a trust during his lifetime for his benefit, naming himself as a trustee.
First, for state tax states, with respect to grantor trusts, the rules of subchapter J of the Code (1) apply to the particular state income tax.