Grantor Trust

July 16th, 2009 |

Author: 1203Broadway

Grantor trust is a term used in the Internal Revenue Code to describe any trust over which the grantor or settlor retains the power to control or direct the trust’s income or assets. All revocable trusts are, by definition, grantor trusts. If a trust is a grantor trust, then the grantor is treated as the owner of the assets, the trust is disregarded as a separate tax entity, and all income is taxed to the grantor rather than to the trust.

Posted in Terminology, Wills & Trusts

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