What is a grantor?

A grantor is a person who creates a trust or estate in North Carolina. This could include setting up a will, trust, or other estate planning document. The grantor sets the terms for how the trust or estate will be managed and provides the money or other assets to be held in the trust or by the estate. The grantor is sometimes referred to as the settlor, donor, trustor, or testator. In North Carolina, the grantor must be a resident of the state and of legal age (18) when they create the trust or estate. The grantor is responsible for naming beneficiaries, setting out the terms of how the trust or estate will be managed, and funding the trust or estate. Beneficiaries receive money or assets from the trust or estate according to the grantor’s wishes. The grantor may also name a trustee or executor to manage the trust or estate, and make sure that the terms and wishes of the grantor are respected. The grantor will typically have some control over the trust or estate before their death, but after they pass, they no longer have any control. The grantor may also change or revoke the trust or estate at any time while they are alive, so long as they are of sound mind and all legal requirements are met.

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