Grantor
Explore the role of a grantor in estate planning, including their responsibilities and how they can influence trust creation.
What is the significance of the grantor in a trust?
In estate planning, the grantor is the individual who creates and funds a trust. As the person setting up the trust, the grantor can set terms on how assets within the trust are to be managed and distributed. They may amend or revoke the trust during their lifetime if it is a revocable trust. Understanding the role of a grantor is crucial as it establishes the foundation for how a trust operates and serves the beneficiaries. This role allows the grantor to have control over their estate and potentially manage estate taxes and probate processes more efficiently.
