What is a grantor?

A grantor is a person who creates a trust in the state of Kansas to provide for the care of his or her beneficiaries. This person is also known as the trustor, settlor, or trustmaker. A grantor must include specific wording in the trust for it to be legally enforceable. The grantor decides on the terms and conditions of the trust that are legally binding in Kansas, such as who will be the trustee to manage the trust, and what assets are included in the trust. The grantor also decides who will benefit from the trust and how much they will receive. The grantor can also decide when and how the trust assets are distributed, and can name a guardian for minor beneficiaries. In addition, the grantor is responsible for paying the taxes associated with the trust. The grantor can also choose to provide for the personal needs of the beneficiaries, such as medical and educational expenses. In brief, the grantor is the person who establishes the trust and is ultimately responsible for its success. Grantors must be careful to ensure that their trust is legally binding so that their wishes are upheld, and that their assets are properly managed and distributed.

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