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grantor-retained unitrust

in

A form of Grantor-Retained Trust, the Grantor-Retained Unitrust Trust (commonly referred to as GRUT) is set up when a donor makes a donation to a trust.  For a fixed period of time, the donor will recieve annual payments of a fixed percentage of the net fair market value of the trust assets (determined annually).  At at the end of the time the remaining value of the trust will be passed to the beneficiary.

Definition from Nolo’s Plain-English Law Dictionary

Definition provided by Nolo’s Plain-English Law Dictionary.

August 19, 2010, 5:17 pm