The settlor of a trust, sometimes referred to as the “grantor,” “donor,” or “trustor,” is the individual who creates the trust. The settlor transfers their own property or assets into the trust, initiating the trust arrangement. In establishing the trust, the settlor decides and outlines the terms of the trust, including the identification of.. According to Cornell Law School, the settlor is the party that creates a trust, usually the donor. The settlor transfers the legal title of the assets to the trust for the trustee to manage. The settlor then provides language in the trust that states how beneficiaries may inherit trust property. In the case of the inter vivos or Living Trust.
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According to the relevant law, a trust is created if The settlor of the trust (which is the
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Settlor: The entity that establishes a trust. The settlor also goes by several other names: donor, grantor , trustor and trustmaker. Regardless of what this entity is called, its role is to.. Additionally, the grantor is responsible for informing the IRS of all losses or profits on his or her tax return. In comparison, a non-grantor trust is where the grantor has given up entire control of the trust. In a non-grantor trust, only the trustee has the power to terminate or revoke the trust. In addition, the grantor cannot hold.
