Glossary G-words (MAM)

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Grantor - Any individual who creates a trust, such as the individual, the individual's spouse, a person including a court or administrative body with legal authority to act in place of, or on behalf of, the individual or the individual's spouse; or a person, including a court or administrative body, acting at the direction or upon the request of the individual or the individual's spouse.

Gross Earned Income (employed by another) - The total amount of wages, salaries, tips, commissions, or the dollar value of in-kind benefits received by an employee as compensation for work performed before any payroll deductions are subtracted.

Gross Earned Income (self-employed) - The total amount of cash or the dollar value of in-kind benefits, minus the cost of doing business, which is received as compensation for work performed.

Gross Income - The total amount of cash or in-kind benefits, the total amount of earned income, the total self-employed income, and the total unearned income before deductions.

Gross Monthly Income - The total amount of money received by a family in one month before subtracting any expenses.