Family Law Mediation Attorneys

Peace Talks Glossary

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Generation skipping trust

Estate tax saving trust which leaves the principal in trust for grandchildren with one’s children receiving only the trust income.

Gifts

For estate planning purposes, any property given to a person or organization during your life, or left by will or living trust after your death.

Gift taxes

Taxes assessed by the government on gifts made during your lifetime.

Grantee

On a deed, the person who is receiving title to the property.

Grantor

Person who establishes a trust. Synonyms include settler and trustor. On a deed, the person who is transferring title to someone else.

Grantor retained income trusts

Trusts in which the grantor retains some interest in the trust property during his life rather than relinquishing all interest to the money or property.

Guardian of the minor’s property

Also called a property guardian or financial guardian. The guardian cares for your minor child’s property which isn’t part of a minor’s trust or other legal vehicle.

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