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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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If the ILIT has not been structured as a defective grantor trust, then additional care should be taken.
Another way for a grantor to gain indirect access to trust assets is through loans from the trustee to the grantor's spouse.
Should the grantor wish to add the appropriate language to the trust, we find the business will remain in trust not only for the benefit of the children but will pass to the grandchild free of all estate and gift taxes as well.
This article addresses the federal transfer tax and income tax consequences that the client may incur if the principal amount or the interest rate of the promissory note issued by a grantor trust in an intrafamily installment sale is decreased.
Therefore, it would be more difficult for classes of individuals who feel they've been treated unfairly to challenge the validity of the trust based on the fact that the grantor did not realize what he was doing when he created the trust (i.
Upon the death of, the grantor, the trust becomes irrevocable, and all assets are subject to the trust agreement.
We believe that the diversity and professional training of our members enable us to bring an important, balanced, and practical perspective to the issues raised by the proposed regulations under section 671 of the Internal Revenue Code, relating to the application of the grantor trust rules to nonexempt employee trusts.
This situation reveals the need for grantor, charity, and professional advisors to understand the objectives of a CRT before the papers are signed.
If the proxyholder so appointed is legally subject to a conflict of interest in voting on any of the proposals which, on or off the Agenda, are submitted to the Extraordinary General Shareholders' Meeting, the proxy shall be deemed to be delegated to the Secretary of the Board of Directors, unless otherwise directed by the grantor shareholder.
When grantor trust status applies, either the grantor or a beneficiary is treated as the owner of the activity inside the trust for income tax purposes.
An irrevocable grantor trust is treated as a separate entity for the Federal gift and estate taxes, while at the same time the irrevocable grantor trust is the practical equivalent of a disregarded entity for the Federal income tax purposes.
Living trusts are established by a person called the grantor or settler and take effect during that person's life.
Estate tax planners have long employed intentionally defective grantor trusts to freeze the value of an asset for estate tax purposes while transferring assets out of the estate free of gift tax.
Where legal title remains in the grantor because the deed did not pass legal title, a corrective deed executed by the original grantor is often used to remedy this undesired result.