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, Hereinafter Referred to as Grantor, Does Hereby Release, Convey, and Forever Form

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, Hereinafter Referred to as Grantor, Does Hereby Release, Convey, and Forever Form

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hello john mccarty with scott tokerud mccarty today i will be addressing the topic what is a grantor trust let me start by saying that a trust can be replicable or irrevocable its primary purpose may be to plan for incapacity or disability minimize estate taxes give to charity or even avoid probate to name a few the trust can be set up for the benefit of the creator of the trust or for other individuals the creator of a trust is known as the grantor the person for whom the trust assets are intended to benefit is known as the beneficiary in the grantor can be the beneficiary the term grant or trust can be confusing that is because the term grant or trust is not used to identify the purpose for which the trust was set up or who receives the income or assets but rather it is to denote how the trust's income is taxed the general rule is that all trusts are separate taxpayers just like their human counterparts trusts are taxed�

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