grantor retained unitrust
A term to know.
A trust which pays the creator or grantor a stated percentage of the fair market value of the trust's assets for a fixed term. The unitrust amount can be payable annually, semi-annually, quarterly or monthly. The periodic payments increase or decrease depending upon the fair market value of the assets in the trust as such period times. At the end of the term, the assets remaining in the trust pass to designated beneficiaries.
Synonyms:
GRUT, GRUTs, grantor retained unitrusts
Synonyms list
(a comma-separated list)
GRUT, GRUTs, grantor retained unitrusts