A grantor is the person responsible for creating a trust which transfer ownership of estate assets. Other names for this role include settlor, trustor or creator.
What you need to know
A grantor is the individual who creates a trust and supplies the assets to fund the trust. Although it is not required, the grantor may serve as the trustee to administer the trust during his or her lifetime. This type of trust is often called a grantor trust. The grantor may also name another individual or entity to serve as the sole trustee or co-trustee of the trust, which is called a non-grantor trust. Regardless of whether the trust is a grantor trust or non-grantor, the grantor will always be the individual who creates the trust and funds it with assets.
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Find your state’s rulesJay has built substantial wealth and decides to create a trust. He updates his will and creates a trust in the will document, making him the grantor of the trust. He transfers the majority of his wealth to the trust to fund it. Jay also names himself as the trustee over the trust, making the trust a grantor trust.
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Aaron Schnoor
Aaron Schnoor is an Assistant Vice President and Trust Officer at Wells Fargo Wealth Management.
Aaron received his undergraduate degree in Trust and Wealth Management from Campbell University in North Carolina, along with a minor in Financial Planning. Aaron continued his education with an MBA in Financial Services, also from Campbell University.
Aaron frequently writes as an industry expert on fiduciary topics related to trusts, estate settlement and generational wealth management. His work has appeared in The New York Times, Forbes, the Trust Education Foundation and many other publications.
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