What is a Transferor in Trusts?

In the context of trusts, a transferor is an individual or entity that transfers assets into a trust. This can include property, money, or other types of assets. The transferor is typically the person who sets up the trust and funds it with assets.

For example, if John wants to set up a trust for his children, he would be the transferor because he is transferring assets into the trust. Once the assets are in the trust, they are managed by the trustee (who is appointed by John) for the benefit of the beneficiaries (which would be John's children).

It's important to note that the transferor does not necessarily have to be the same person as the grantor, who is the person who creates the trust. The grantor is the person who creates the trust and specifies the terms of the trust, including who the beneficiaries are and how the assets should be managed. The transferor is simply the person who transfers assets into the trust.