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Definition of 'Grantor'

A grantor is a person or entity that gives something to another person or entity. In the context of a trust, the grantor is the person who creates the trust and transfers assets to it. The grantor can be an individual, a corporation, or another type of entity.

The grantor of a trust has certain rights and responsibilities. The grantor can:

* Determine the beneficiaries of the trust
* Set the terms of the trust
* Make changes to the trust
* Revoke the trust

The grantor of a trust also has certain responsibilities. The grantor must:

* Provide the trust with sufficient assets to meet its obligations
* Make sure that the trust is managed in accordance with its terms
* Provide information about the trust to the beneficiaries

The grantor of a trust may also be subject to certain taxes. For example, the grantor may have to pay income taxes on any income earned by the trust.

It is important to note that the grantor of a trust is not the same as the trustee. The trustee is the person or entity who is responsible for managing the trust's assets. The grantor may or may not be the trustee of the trust.

If you are considering creating a trust, it is important to speak with an experienced estate planning attorney. An attorney can help you understand the different types of trusts and the implications of creating a trust.

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