Posts Tagged: legal word of the day

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(Legal) Word of the Day: Settlor (AKA Donor or Grantor)

Settlor (or Donor or Grantor) The person who creates a trust is called the settlor (sometimes called the donor or grantor). It is the settlor’s intent which is of paramount importance. It is the intent of the settlor that determines whether a trust has been created. Here’s a great read with a rundown on the… Read more »

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(Legal) Word* of the Day: ILIT

Mark Twain famously said, “A classic is something everybody wants to have read, but no one wants to read.” Life insurance is a little like that. Everyone needs it, but we don’t like to talk about it much. Life Insurance as Key Estate Planning Tool Life insurance is an amazing estate planning tool. I cannot… Read more »

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(Legal) Word of the Day: Trust

In my ongoing efforts to break down the legalese barriers that tend to separate lawyers from the real world, and have increased quality communication, here’s another Fun with Legal Words post. Today’s word is “trust.” In this context, and in the simplest terms, a trust is a legal agreement between three parties: settlor, trustee, and… Read more »