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A trust in which the grantor is deemed to retain strings, or elements of ownership of the assets transferred to the trust, thereby causing the assets of the trust to be taxable to the grantor for income and/or estate tax purposes. A grantor trust may be taxed to the grantor for income tax purposes and not estate tax purposes, as is the case with a generic CLT or ILIT.

Synonyms: grantor trusts, donor trust
Synonyms list (a comma-separated list)
grantor trusts, donor trust