Business, Legal & Accounting Glossary
A type of trust that holds property transferred to it by the grantor at the inception of the trust, which allows the grantor to retain full rights to any income deriving from the trust for a pre-specified period of time, or until the death of the grantor.
Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you’ve named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial chunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs), and Grantor-Retained Income Trusts (GRITs).
GRITs
GRIT
GRUTS
Grantor-Retained Annuity Trusts
Grantor-Retained Unitrusts
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This glossary post was last updated: 20th November, 2021 | 0 Views.